find the principal which will amount to rupees 4500 in 2 years at the rate of 4 % per annum compounded annually
Answers
Answer:
Given
Principal Amount = (P) = ? (Required to find)
Rate of Interest Per Annum = (i) = 4%
Future Amount (inclusive of interest) = (F) = 4500
Time = (n) = 2 years
Interest Method = Compound Interest
We know that ...
Under compound Interest..
Future Amount (F) = P(1+i)^n
(where P = Principal Amount, i =Rate of Interest Per annum, n = No.of years)
Subsitute Given information in the above formula..
4500 = P ( 1 + 4%)^2
4500= P (1 + 4/100)^2
4500= P(1 + 0.04)^2
4500 =P (1.04)^2
4500 = P( 1.0816)
4500/1.0816 = P
4160.5 = P
So .... 4160.5 amounts to 4500 in 2 years at 4% compound Interest...
Step-by-step explanation:
Answer:
Step-by-step explanation:
Given
Principal Amount = (P) = ? (Required to find)
Rate of Interest Per Annum = (i) = 4%
Future Amount (inclusive of interest) = (F) = 4500
Time = (n) = 2 years
Interest Method = Compound Interest
We know that ...
Under compound Interest..
Future Amount (F) = P(1+i)^n
(where P = Principal Amount, i =Rate of Interest Per annum, n = No.of years)
Subsitute Given information in the above formula..
4500 = P ( 1 + 4%)^2
4500= P (1 + 4/100)^2
4500= P(1 + 0.04)^2
4500 =P (1.04)^2
4500 = P( 1.0816)
4500/1.0816 = P
4160.5 = P
So .... 4160.5 amounts to 4500 in 2 years at 4% compound Interest...
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