Question

A certain sum amounts to rupees 72,900 in 2years at 8%per annum compound interest, compound annually find the sum​

Answer 1

Answer:

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