Question

find the sum of money invested by man in scheme which offer CI at 5% rate of interest per annum if CI for 2nd year is rs 3150​

Answer 1

let P be the principal.

P×105/100×105/100=amount after 2 years

therfore amount=1.1025P

therfore interest after two years=1.1025P-P=0.1025P

0.1025P=3150

P=3150/0.1025

P=30731