Question

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

Answer 1

$\rm\underline\bold{Question \purple{\huge{\checkmark}}}$

A certain sum amounts to $ 72900 in 2

years at 8% per annum compound

interest, compounded annually. Find

the sum.

$\huge{\tt{\colorbox{lime}{AnswEr:}}}$

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

Answer 2

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