Question

A certain sum of money compounded annually amount to ₹23, 328 at 8%.p.a in 2years time .find the sum​

Answer 1

Gɪᴠᴇɴ :-

• Amount = Rs.23,328
• Rate = 8% P.A.
• Time = 2 years.

Tᴏ Fɪɴᴅ :-

• Principal = ?

Fᴏʀᴍᴜʟᴀ ᴜsᴇᴅ :-

• A = P[1 + (R/100)]^T

Sᴏʟᴜᴛɪᴏɴ :-

Let the sum invested is P.

Putting all values in formula we get,

→ 23328 = P[ 1 + (8/100)]²

→ 23328 = P[ 1 + (2/25)]²

→ 23328 = P(27/25)²

→ 23328 = P(729/625)

→ P = (23328 * 625) / 729

→ P = 32 * 625

→ P = Rs.20,000 (Ans.)

Hence, the sum invested is Rs.20,000.

Answer 2

GIVEN :-

• Amount (A) = ₹23,328

• Rate of interest (R) = 8% p.a

• Time (T) = 2years.

TO FIND :-

• Principal (P) = ?

SOLUTION :-

We know that,

A=P(1+R/100)^T

[ Put the values ]

=> 23328 = P( 1 + 8/100)²

=> 23328 = P(1 + 2/25)²

=> 23328 = P(27/25)²

=> 23328 = P( 729/625)

=> P = 23328 × 625 / 729

=> P = 14580000/729

=> P = ₹20000

Therefore, the sum invested is ₹20000 .