11.
Find the principal when C.I. for 2 years at the rate of 4% p.a., interest compounded annually is
102.
Answers
Answered by
2
Step-by-step explanation:
S.I=Rs.340,Time=2 years,R=4%
(i)Let the sum of money be rs.x
S.I=
100
PRT
⇒340=
100
x×4×2
⇒x=
4×2
340×100
=Rs.4250
(ii)C.I for Rs. 4250 for one year payable half-yearly
∴ T=1 year=2 half year,Rate=
2
4
=2%
A=P(1+
100
R
)
T
⇒4250(1+
100
2
)
2
⇒4250(
100
102
)
2
⇒4250×
50
51
×
50
51
=4421.70
C.I=A−P
⇒4421.70−4250=Rs.171.70
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