Question

(C) Ifth
3. The compound interest on a certain sum is 43.56 for 2 years at 5% per annum. Find the sum​

Answer 1

Answer:

Rs. 424.98

Step-by-step explanation:

CI = Rs. 43.56

T = 2 years

R = 5 %p.a.

P = ?

A = CI + P

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

=> 43.56 + P = P(105/100) ^ 2

=> 43.56 + P = 1.1025*P

=> 43.56 = -P + 1.1025P = 0.1025*P

=> P = 43.56/0.1025 = 424.98