Question

a sum of money amounts to ₹8820 in 2 years at the rate of 5%per annum compounded annually. find the sum​

Answer 1

Answer:

17640

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Answer 2

$principle \: = 8820$

$rate \: of \: interest \: = 5\%$

$time \: = 2 \: years$

Formula of compound interest :-

$p(1 + \frac{r}{100} )^{n}$

P - principal

T - time

r - rate of interest

n - number of year

$8820( \frac{105}{100}) ^{2}$

$8820( \frac{21}{20} )^{2}$

$8820( \frac{21}{20} \times \frac{21}{20} )$

After simplification :-

$\frac{225}{10} \times \frac{21}{10} \times \frac{21}{1}$

$992.25$

Amount to be paid = Principal + CI

Amount = 8820 + 992.25

Amount = 9812.25

The amount to be paid is = ₹9812.25

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