Question

Find what sum will amount to ₹55,125 in two years at 5% per annum compound interest

Answer 1

rate=5%
time=2y
principle=55125
amount =p (1+r/100)^2
$55125 < 1 + 5 \div 100 > ^{2}$
55125×21/20×21/20
2205×441/116
= 972405÷16
=60775.3125

CI=amount-CI
=60775.3125-55125
=5650.3125

Answer 2

Answer:

1. (1+5/100)
2. (1+1/20)2
3. (21/20)
4. 55125=441/400
5. C.I = 55125×400/441
6. 125×400
7. C.I = 50000