Question

A sum amounts to 4,410 after two years at 5% compound interest per annum. What
is the principal?​

Answer 1

Please find the attached photograph for your answer.

Answer 2

SOLUTION

A sum amounts to 4,410 after two years at 5% compound interest per annum.

TO DETERMINE

The principal amount

EVALUATION

Let principal amount = P

Now

Sum amount = 4410

Rate of interest = r% = 5%

Time = n = 2 years

So by the given condition

$\displaystyle \sf{4410 = P { \bigg( 1 + \frac{5}{100} \bigg)}^{2} }$

$\displaystyle \sf{ \implies \: P { \bigg( \frac{105}{100} \bigg)}^{2} = 4410}$

$\displaystyle \sf{ \implies \: P = 4410 \times \frac{100}{105} \times \frac{100}{105} }$

$\displaystyle \sf{ \implies \: P = 4000 }$

Hence the required principal amount = 4000

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