Question

interest?
5. On what sum of money will the compound
interest for 2 years at 5 per cent per annum
amount to * 768.75 ?
interest​

Answer 1

Given,

Time (t) = 2 years

Rate (r) = 5% p.a.

Amount (A) = Rs. 768.75

A = P(1+r/100)^n

.... where n is the no. of years,

768.75 = P(1+5/100)²

768.75 = P(1+1/20)²

768.75 = P(21/20)²

768.75 = 441P/400

(768.75*400) / 441 = P

Rs. 697.27 = P

The Sum of money is Rs. 697.27.

I hope this helps.