Question

How much should Ratan invest in an agency which pays interest at the rate of 9 % compounded annually to get an amount of Rs 71,286 in 2 years ?​

Answer 1

Gɪᴠᴇɴ :-

• Rate = 9% compounded annually.
• Time = 2 Years.
• Amount = Rs.71,286

Tᴏ Fɪɴᴅ :-

• How much should Ratan invest in an agency ?

Fᴏʀᴍᴜʟᴀ ᴜsᴇᴅ :-

when Interest is compounded annually :-

• Amount = Principal[ 1 + (Rate/100)]^(Time)

Sᴏʟᴜᴛɪᴏɴ :-

Let us Assume That, Ratan invest Rs.P .

Than,

➺ 71286 = P[ 1 + (9/100)]²

➺ 71286 = P[ 109/100 ]²

➺ 71286 = P * (109 * 109) / (100 * 100)

➺ 71286 * 100 * 100 = P * 109 * 109

➺ P = (71286 * 100 * 100) / (109 * 109)

➺ P = Rs.60,000 (Ans.)

Hence, Ratan should invest Rs.60,000 in an agency.

Answer 2

Answer:

hope this will help you!