find the sum of money which becomes rupees 14,520 in 2 years at a compound interest rate of 10°per annum
Answers
Answered by
13
Answer:
Rs.12000
Step-by-step explanation:
Easy formula for C.I.
A for C.I(compound interest) = P{ 1 +(r/100)}^t (just a formula dude;)
where a is amount = Rs.14520
where p is principal = ?(we have to find!)
r is rate of interest = 10% P.a.
t is time = 2 years
Understanding the question
The question is not asking for the final, instead it is asking for the initial principal.
Solving the question
A = P{ 1 +(r/100)}^t
A/[{ 1 +(r/100)}^t] = P (we have to find the amount!)
14520/[{ 1+(10/100)}^2] = P (just putting the value)
14520/(1.1)^2 = P
14520/1.21 = P
P = 12000 (Easy! try to understand)
Conclusion
∴ the initial sum of money was Rs.12,000.
Answered by
3
Answer:
A=P/[{1+(r/100)}^t]
14520/[{1+/100)}^2]=P
14520/(1.1)^2=P
P=14520/1.21
P=12000
Similar questions