Question

A certain sum amounts 72900 in 2 years at 8% per annum compound intrest,compounded annually.Find the sum

Answer 1

Solutions :-


Given :

Amount (A) = Rs 72900
Time (t) = 2 years
Rate (r) = 8% p.a

Let the principle be p

Now,
We know the formula of compound Interest,

A = p( 1 + r )^t

A/q

=> 72900 = p(1 + 8%)²
=> 72900 = p(1 + 0.08)²
=> 72900 = p (1.08)²
=> 72900 = p ( 1.08 × 1.08)
=> 72900 = 1.1664p
=> 72900/1.1664 = p = 62500



Hence,
The principle = Rs 62500

Answer 2

Here is your solution

Given :-

Amounts = 72900

Time = 2 years

Rate- 8% p.a

We know that

A=p(1+r)^t

A=p (1+8%)^2

=>72900=p (1+8%)^2

=>72900=p (1+0.08)^2

=>72900=p (1.08)^2

=>72900=p ×1.1664

=>72900/1.1664=p

p=62500

hence

sum is 62500

hope it helps you