Question

a sum of money is borrowed and paid back in two annual installments of rupees 1323 selling 5% of compound interest the sum borrowed bus​

Answer 1

He has borrowed 2460 Rs.

Step-by-step explanation:

To calculate the principal amount in case of compound interest for installments we will use the formula :

$P=\frac{x}{(1+\frac{r}{100}) }+\frac{x}{(1+\frac{r}{100})^{n} }$

P = principal amount

x = EMI (1323)

r = rate of interest (5%)

n = time (2 years)

Now put the values into formula :

$P=\frac{1323}{(1+\frac{5}{100}) } +\frac{1323}{(1+\frac{5}{100})^2 }$

   $=\frac{1323}{1.05}+\frac{1323}{(1.05)^2}$

   = $\frac{1323}{1.05}+\frac{1323}{1.1025}$

   = 1260 + 1200

   = 2460 Rs.

He has borrowed 2460 Rs.

Learn more compound interest : https://brainly.in/question/15280271