Question

(b) How much should a man invest for 2 years at a compound interest rate of 4% p.a. so that he
gets an amount of Rs 6,760?​

Answer 1

$\sf\large\purple{\underbrace{Answer\implies Rs.6250}}$

$\sf\large\underline{Given:}$

$\sf{\implies Amount=Rs.6760}$

$\sf{\implies Rate=4\%}$

$\sf{\implies Time=2\: years}$

$\sf\large\underline{To\: Find:}$

$\sf{\implies Principal=?}$

$\sf\large\underline{Solution:}$

• Simply by applying formula to calculate the investment by the man]

$\sf\large\underline{Formula\: Used:}$

$\tt{\implies A=P\bigg(1+\dfrac{r}{100}\bigg)^n}$

• Putting value here ]

$\tt{\implies 6760=P\bigg(1+\dfrac{4}{100}\bigg)^2}$

$\tt{\implies 6760=P\bigg(\dfrac{104}{100}\bigg)^2}$

$\tt{\implies 6760=P\bigg(\dfrac{26}{25}\bigg)^2}$

$\tt{\implies 6760=\dfrac{676P}{625}}$

$\tt{\implies P=Rs.6250}$

$\sf\large{Hence,}$

• The man should invest Rs.6250]

$\tt\blue{\implies Some\: related\: formula:}$

$\tt{\implies CI=P\bigg(1+\dfrac{r}{100}\bigg)^n-P}$

• For Fraction time calculation formula:]

$\tt{\implies A=P\bigg(1+\dfrac{r}{100}\bigg)^n\bigg(1+\dfrac{rF}{100}\bigg)}$

Answer 2

Given

Amount=6760

Time=2

Rate=4%

• Using formula

A=P(1+r/100)^n

$= > 6760 = p(1 + \frac{4}{100} ) {}^{2} \\ \\ = > 6760 = \frac{676p}{625} \\ \\ = > p = 6250$

therefore he invest Rs.6250