Question

Find the sum of money borrowed if it amounts to Rs.7303.40 at 6% per annum compound interest for 2 years. 

6000

6500

7000

7500

​

Answer 1

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1

st

year

Principal, P=Rs.5000

Time, T=1 year

Rate of interest ,R=6%

∴simple Interest, SI=

100

PTR

=

100

5000×10×6

=Rs.300

∴Amount=P+SI=Rs.5300

2nd year

Principal = Amount of 1st year=Rs.5300

Rate of interest =8%

Time =1 year

∴ Interest =

100

5300×1×8

=Rs.424

∴ Amount =Rs.(5300+424)=Rs.5724

The interest of 2nd year is the required compound interest. So, C.I=rs.424 and the required amount is Rs.5724

btw this is alone king

DE ASIF

$\huge{\mathcal{\purple{Follo}\green{w}\pink{me}\blue{}\purple{}\green{}\pink{!}}}$

Answer 2

Step-by-step explanation:

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