Question

A sum of money invested at compound interest of 8%p a , compounded annuly amounted to 7290in two year Find the sum invested​

Answer 1

✴ Given :

• ➬ Amount = ₹ 7290
• ➬ Rate = 8 %
• ➬ Time = 2 years

✴ To Find :

• ➬ Principle = ?

✴ Solution :

Formula Used :

$\large{\gray{\bigstar}} \: \: {\underline{\boxed{\red{\sf{ A = P \bigg[1 + \dfrac{R}{100} \bigg]^T }}}}}$

Where :

• ${\blue{\rightarrowtail}}{\sf{ A = Amount }}$
• ${\blue{\rightarrowtail}}{\sf{ P = Principle }}$
• ${\blue{\rightarrowtail}}{\sf{ R = Rate }}$
• ${\blue{\rightarrowtail}}{\sf{ T = Time}}$

Finding the Principal :

${:\implies{\qquad{\sf{ A = P \bigg[1 + \dfrac{R}{100} \bigg]^T }}}}$

${:\implies{\qquad{\sf{ 7290 = P \bigg[1 + \dfrac{8}{100} \bigg]^2 }}}}$

${:\implies{\qquad{\sf{ 7290 = P \bigg[ \dfrac{108}{100} \bigg]^2 }}}}$

${:\implies{\qquad{\sf{ 7290 = P \bigg[ \cancel\dfrac{108}{100} \bigg]^2 }}}}$

${:\implies{\qquad{\sf{ 7290 = P \bigg[ 1.08 \bigg]^2 }}}}$

${:\implies{\qquad{\sf{ 7290 = P \times 1.1664 }}}}$

${:\implies{\qquad{\sf{ P = \cancel\dfrac{7290}{ 1.1664} }}}}$

$\large \: \: \: \: {\qquad{:\implies{\underline{\boxed{\red{\sf{ ₹ \: 6250 }}}}}}}{\blue{\bigstar}}$

Therefore :

❝ The invested sum was ₹ 6250. ❞

${\pink{\underline{\purple{▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬}}}}$

Answer 2

Step-by-step explanation:

given :

• sum = 8%

• amounted = 7290

• in two years= 2

to find :

• Find the sum invested

solution :

• =P(1+(R/100))^n

• 7290=x(1+0.08)^2

• 7290=x(1.08)^2

• 7290-1.1664x

• x=7290/1.1664

• x=6250

• sum reserved = 6250

• thus, the answer is 6250