Question

14. The compound interest on a certain sum for
2 years at 5% per annum compounded
annually is 416.20. Find the sum.​

Answer 1

Answer:

416.20×5×2/10000

=41.60

Answer 2

Answer:

CI = 416.20. PRINCIPAL = P

RATE = 5℅. TIME = 2 YRS

AMOUNT= P[1+R/100]^T

AMOUNT= P[1+5/100]²

AMOUNT = P[105/100]²

AMOUNT=P[21/20]²

AMOUNT= P×21/20×21/20

AMOUNT= 441P/400

C.I.= A-P

416.20= 441P/400 - P

416.20=41P/400

41P=166480

P=166480/41

P=4060.48