Question

16. On what sum the CI for 2 years at the rate of interest 5 % compounded annually
becomes Rs 2850?
a) 16,004
by 27,805
C) 30,515
d) 29,500
please give me a correct answer..Don't give silly answers..If you give i will report your answer..Its urgent plzz​

Answer 1

Step-by-step explanation:

Given:-

• Compound Interest = Rs. 2850

• Time = 2 years

• Rate = 5%

To Find:-

• The sum (Principal)

Solution:-

Let the Principal be P

Compound Interest = Amount + Principal

For Finding the Amount:-

Formula Used:-

$\dashrightarrow \rm A = P\bigg(1 + \dfrac{r}{100}\bigg)^{n}$

Here:-

• A = Amount

• P = Principal = ?

• n = Time = 2 years

• r = Rate = 5%

Now,

$\dashrightarrow \rm CI = A - P$

$\dashrightarrow \rm 2850 = \bigg[P\bigg(1 + \dfrac{r}{100}\bigg)^{n} \bigg]- P$

$\dashrightarrow \rm 2850 = \bigg[P\bigg(1 + \dfrac{5}{100}\bigg)^{2} \bigg]- P$

$\dashrightarrow \rm 2850 = \bigg[P\bigg( \dfrac{100+5}{100}\bigg)^{2} \bigg]- P$

$\dashrightarrow \rm 2850 = \bigg[P\bigg( \dfrac{105}{100}\bigg)^{2} \bigg]- P$

$\dashrightarrow \rm 2850 = \bigg[P\bigg( \dfrac{21}{20}\bigg)^{2} \bigg]- P$

$\dashrightarrow \rm 2850 = \dfrac{441P}{400}-P$

$\dashrightarrow \rm 2850 = \dfrac{441P - 400P}{400}$

$\dashrightarrow \rm 2850 = \dfrac{41P}{400}$

$\dashrightarrow \rm 2850 \times \dfrac{400}{41} = P$

$\dashrightarrow \rm P = \dfrac{1140000}{41}$

$\dashrightarrow \rm P = 27804.8 = 27805....(approx)$

$\underline{\boxed{\purple{\rm \therefore The \: sum \: of \: money = Rs.27805}}}$