Question

anuradha invested a certain sum of money at the compound interest of 8% per anuum compounded annually.at the end of 2 years, she received an amount of Rs7,290.how much amount did anuradha invest? please step by step​

Answer 1

Answer:

If you follow this pattern out for Y years, you get the general formula for future value:

1. FV   =   P (1 + r)Y

That's to compound once per year. More generally, if you want to compound n times per year, you use:

2. FV   =   P (1  +  r / n)Yn

Example:

Let's say you want to invest $1000 at 5% interest, compounded annually. At the end of ten years, your balance would be

Let's say you want to invest $1000 at 5% interest, compounded annually. At the end of ten years, your balance would beFV   =   $1000 x (1  +  .05)10

Let's say you want to invest $1000 at 5% interest, compounded annually. At the end of ten years, your balance would beFV   =   $1000 x (1  +  .05)10which equals $1628.89.

Let's say you want to invest $1000 at 5% interest, compounded annually. At the end of ten years, your balance would beFV   =   $1000 x (1  +  .05)10which equals $1628.89.If the interest was compounded monthly instead of annually, you'd get

Let's say you want to invest $1000 at 5% interest, compounded annually. At the end of ten years, your balance would beFV   =   $1000 x (1  +  .05)10which equals $1628.89.If the interest was compounded monthly instead of annually, you'd getFV   =   $1000 x (1  +  .05/12)120

Let's say you want to invest $1000 at 5% interest, compounded annually. At the end of ten years, your balance would beFV   =   $1000 x (1  +  .05)10which equals $1628.89.If the interest was compounded monthly instead of annually, you'd getFV   =   $1000 x (1  +  .05/12)120which equals $1647.01.

Step by Step Explanation:

Let the ammount invested by anuradha be X

7290 = X × (1 + 8%)2

7290 = X × (1+ 0.08)2

7290 = X × (1.08)2

7290 = X × 2.16

X = 7290 ÷ 2.16

Therefore, X = 3375

Therefore anuradha invested Rs.3375

To check the answer you can do this,

FV=7290(given)

X=3375(we got the answer)

FV=3375 × (1+0.08)2

= 3375 × 2.16

= 7290

Therefore our answer is Correct! ❤

Answer 2

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