Question

a sum of money invested at compound interest of 8% compounded annually amounted to rupees 7290 in 2 years find the sum invested​

Answer 1

By this formulae you will be able to solve

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Answer 2

Answer:

Step-by-step explanation:

Let sum of money be x

Using A = P(1 + r/n) ^nt

( A = 7290 , p = x , r = 8 , n = no. Of times compounded per year = 1 , t = 2 years )

=> P = A / (1 + 8/1 ) ^ 1 * 2

P = 7290 / 9 ^ 2

=> 7290 / 81

= 810

Therefore P = ₹ 810