.Find what sum will amount to ₹ 73810 in two years at 10% per annum compound interest.
Answers
Given,
The principal amount = Rs. 73810
Time = 2 years
Rate of interest = 10%
To find,
The amount of sum after being compounded in the given time.
Solution,
The principal amount is compounded annually in this case, so we can use the following mathematical formula for solving this mathematical problem.
Compounded sum = P (1 + r/100)^n
Here,
P = Principal amount
r = Rate percentage
n = Number of years
By putting the values, we get
Sum = 73810 × ( 1 + 10/100)²
= 73810 × (1 + 1/10)²
= 73810 × (11/10)²
= 73810 × 121/100
= Rs. 89310.10
Hence, the sum of money is Rs. 89310.10
Answer:
Given,
The principal amount = Rs. 73810
Time = 2 years
Rate of interest = 10%
To find,
The amount of sum after being compounded in the given time.
Step-by-step explanation:
Solution,
The principal amount is compounded annually in this case, so we can use the following mathematical formula for solving this mathematical problem.
Compounded sum = P (1 + r/100)^n
Here,
P = Principal amount
r = Rate percentage
n = Number of years
By putting the values, we get
Sum = 73810 × ( 1 + 10/100)²
= 73810 × (1 + 1/10)²
= 73810 × (11/10)²
= 73810 × 121/100
= Rs. 89310.10
Hence, the sum of money is Rs. 89310.10