Question

Find the sum which amount to 1352 in 2 years at 4% compound interest.

Answer 1

Correct Answer:A) RS.1250
Description for Correct answer

Using the formula, A = P(1+R100)nP(1+R100)n

=> 1352=P(1+4100)2P(1+4100)2

=> 1352=P(1.04)2P(1.04)2

P=1352(1.04)21352(1.04)2=RS.1250

Answer 2

Answer:

Given

Amount (A) = 1352 RS

Time(n) = 2 years

Rate = 4%

Amount = P ( 1+$\frac{r}{100} )^{n}$

1352 = P (1+ $\frac{4}{100}) ^{2}$

1352 = P (1+$\frac{1}{25} )^{2}$

1352 = P ($\frac{26}{25} )^{2}$

P= 1352×25× 25/26×26

p= 845000/676

P= 1250 RS

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@GauravSaxena01