Question

A sum of money invested at 8percent per annum amount to ₹12122 in 2 years

Answer 1

Given,

Amount [a]:- Rs 12122

Rate[r] :- 8% per annum

Time[t] :- 2 years

To find p,

A=p[1+r/100]^{n}

Rs 12122=p[1+8/100]^{2}

12122=p[100+8/100]^{2}

12122=p[108/100]^{2}

12122=p[27/25]^{2}

12122=p*27/25*27/25

12122=p*1.1664

12122/1.1664=p

Rs 10392.661=p