Question

(6) Rs. 1, TUU
What sum of money will amount to Rs. 3,630 in two years at 10 per
cent per annum compound interest?
(a) Rs. 2,570
(b) Rs. 3,500
(c) Rs. 3,000
(d) Rs. 2,500
interest per an-
n.​

Answer 1

Answer:

(c) Rs. 3000

Step-by-step explanation:

Amount=3630, R=10, n=2, P=?

Amount=P(1+R/100)ⁿ

3630=P(1+10/100)² = P(1.1)² = 1.21P

P=3630/1.21

P = 3000