Question

2 On what sum of money will the compound
interest for 2 years at 5 per cent per annum
amount to 768-75 ? -​

Answer 1

Answer:

69727.9

Solution:

Amount = RS.76875

Rate=5%

Time=2years

Amount=Principal (1+r/100)²

76875=P(1+5/100)²

76875=P(105/100)²

76875=P×105/100×105/100 Principal = 7875×100×100/105×105

Principal = 69727.9 or 69727.89