Question

A sum amounts to ₹ 756.25 at 10% per annum in 2 years. Compounded annually find the sum.​

Answer 1

Given:-

• Amount = ₹ 756.25
• Rate % = 10%
• Time = 2 years

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To Find:-

• Principal (Sum)

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Formula Used:-

$\tt{Amount = Principal×{(1+\frac{Rate}{100})}^{time}}$

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Solution:-

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Let the principal be ₹x

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By Putting the given values in Formula;

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$\boxed{\tt{Amount = Principal×{(1+\frac{Rate}{100})}}^{time}}$

$\tt{Amount = Principal×{(1+\frac{Rate}{100})}^{time}}$

$\tt{\implies₹ 756.25 = x×{(1+\frac{10}{100})}^{2}}$

$\tt{\implies₹ 756.25 = x×{(\frac{110}{100})}^{2}}$

$\tt{\implies₹ 756.25 = x×{(1.1)}^{2}}$

$\tt{\implies₹ 756.25 = x×1.21}$

$\tt{\implies₹ 756.25 ÷ 1.21 = x}$

$\tt{\implies x =₹625 }$

$\boxed{\red{\bf{x = Sum\ of\ money = ₹625}}}$

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Formula to be remembered:-

▪︎$\bf{Amount = Principal×{(1+\frac{Rate}{100})}^{time}}$

▪︎$\bf{Simple Interest = \frac{Principal ×Rate×Time}{100}}$

▪︎$\bf{Amount = Principal + SI}$

▪︎$\bf{Amount = Principal + CI}$