Question

At 10% C.I. p.a., a sum of money accumulate to Rs. 9625 in 5 years. The sum invested
initially is
(a) Rs. 5976.37 (b) Rs. 5970 (c) Rs. 5975 (d) Rs. 5370.96

Answer 1

we have
A=9625
T=5 years
R=10%

A=P(1+R/100)^T

9625=P(1+10/100)^5

9625=P(11/10)^5

P=9625×(10/11)^5

P=9625×100000/161051

P=5976.36 Answer

Answer 2

Answer:

Option a - Rs.5976.37

Step-by-step explanation:

Given : At 10% C.I. p.a., a sum of money accumulate to Rs. 9625 in 5 years.

To find : The sum invested  initially ?

Solution :

Applying compound interest formula,

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

Where, A is the amount A=Rs.9625

r is the rate of interest r=10%=0.1

t is the time t=5 years

Substitute the values,

$9625=P(1+0.1)^5$

$9625=P(1.1)^5$

$9625=P(1.61051)$

$P=\frac{9625}{1.61051}$

$P=5976.367$

Therefore, The sum invested initially is Rs.5976.37.

So, Option 'a' is correct.