Question

If the compound interest on a certain sum for 2 years at 10% per annum is rs 1050, the
sum is​

Answer 1

Answer:

Step-by-step explanation:

CI = 1050 Rs

r = 10 % per annum

t = 2 years

# Solution -

Compound interest over sum p is given by formula -

CI = P [(1+r)^t - 1]

1050 = P [(1 + 10/100)^2 - 1]

1050 = P [(1+0.1)^2 - 1]

1050 = P [1.1^2 - 1]

1050 = P [1.21 - 1]

1050 = P × 0.21

P = 1050 / 0.21

P = 5000 Rs

Therefore, sum is 5000 Rs.

Answer 2

Step-by-step explanation:

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