Question

6. A certain sum amounts to 14,580 in 2 years at
8% per annum compound interest, compounded
annually. Find the sum.





with formula​

Answer 1

Answer:

12500

Step-by-step explanation:

Given :-

Amounts = 14580

Time = 2 years

Rate- 8% p.a

We know that:

A = P(1+r)^t

A = P(1+8%)^2

=> 14,580= P(1+8%)^2

=> 14,580= P(1+0.08)^2

=> 14,580= P(1.08)^2

=> 14,580= P × 1.1664

=> 14,580/1.1664 = P

P = 12500

Hence:

Sum is 12500