The compound interest of a sum at the rate of yearly compound interest in 1 year and 2 years are respectively Rs. 1,800 and Rs. 3,816, then find the rate of the interest and the sum.

Question

Accepted Answer

Let principal , rate . Interest of year 1: ...(i). Total CI in 2 years: ...(ii). From (i), . Substituting the identity [since ]: , so , giving , so . Then .