Mathematics for FinanceMTP Apr 21Question 1322 of 422
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A sum of money amounts to $20,800$ in $5$ years and $22720$ in $7$ years. Find the principle and rate of interest.

Options

A$5000, 6\%$
B$16000, 8\%$
C$80000, 8\%$
D$10000, 10\%$
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Correct Answer

Option b$16000, 8\%$

All Options:

  • A$5000, 6\%$
  • B$16000, 8\%$
  • C$80000, 8\%$
  • D$10000, 10\%$

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