Question

a sum of money invested at compound interest of 8 % per annum compounded annually amounted To rs 7290 in 2 years find the sum invested?

Answer 1

Let the principal be 'x'
We know,
A=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
Thus, the principal is Rs. 6250

Answer 2

Answer:

The sum invested $6250.

Step-by-step explanation:

Given : A sum of money invested at compound interest of 8 % per annum compounded annually amounted To rs 7290 in 2 years

To find : The sum invested?      

Solution :

Using compound interest formula,

$A=P(1+r)^t$

Where A is the amount A=Rs.7290

P is the principle P=?

r is the rate r=8%=0.08

t is the time t= 2 years

Substitute the value,

$A=P(1+r)^t$

$7290=P(1+0.08)^2$

$7290=P\times 1.1664$

$P=6250$

Therefore, The sum invested $6250.