Question

A sum of money invested at compound interest of 8% p. a., compounded annually, amounted to Rs. 7290 in two years. find the sum invested.

Answer 1

THANKS FOR THE QUESTION !

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ANS :

....................... 6,250 RS .......................

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GIVEN :

=> THE INTEREST IS COMPOUND INTEREST :

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RATE OF INTEREST :

=> 8% P.A.

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TIME PERIOD :

=> 2 YEARS

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AMOUNT :

=> 7,290 RS

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TO FIND :

=> PRINCIPLE .....

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NOW,

AMOUNT :

=> P ( 1 + R / 100 ) ^ N

=> P ( 1 + 8 / 100 ) ^ 2

=> P ( 108 / 100 ) ^ 2

=> P ( 27 / 25 ) ^ 2

=> P * 27 / 25 * 27 / 25

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BUT,

=> WE HAVE GIVEN THE AMOUNT :

=> 7,290 RS

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=> 7,290 = P * 27 / 25 * 27 / 25

=> P = 7,290 * 25 * 25 / 27 * 27

=> P = 10 * 25 * 25

=> P = 6,250 RS

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HOPE IT WILL HELP U ....

THANKS AGAIN.....

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