Question

1.On what sum of money will CI for 2 years at 5% p.a amount to Rs 164?

A)100

b)3200

c)2000

d)1500​

Answer 1

Answer:

On what sum will the compound interest at 5% per annum for 2 years compounded annually be ₹164. The required sum is ₹1600.

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Answer 2

❄️ Given :

• Rate = 5% per annum
• Compound Interest (CI) = Rs. 164
• Time (t) = 2 years

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❄️ Formula we are using :

• CI = A – P

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❄️ Solution :

• Let P be x

↝ CI = A – P

➜ 164 = P (1 + R/100)^n - P

➜ P [(1 + R/100)^n - 1]

➜ x [(1 + 5/100)² - 1]

➜ x [(105/100)² - 1]

➜ 164 = x ((1.05)² - 1)

➜ x = 164/((1.05)² - 1)

➜ 164/0.1025

➜ Rs. 1,600

Therefore, the requested sum is Rs. 1,600.