5. On what sum of money will the compound
interest for 2 years at 5 per cent per annum
amount to * 768.75 ?
Answers
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0
Answer:
We have,
Amount A=Rs768.75
Principal value =?
Rate =r=5%
Time n=2year
So,
Using formula
A=P(1+
100
r
)
n
768.75=P(1+
100
5
)
2
768.75=P(1+
20
1
)
2
768.75=P(
20
21
)
2
P=768.75×
21
20
×
21
20
P=Rs697.2
Hence, this is the answer.
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