Question

Mohit borrowed a certain sum at 5% per
annum compound interest and cleared this
loan by paying 12,600 at the end of the first
year and * 17,640 at the end of the second
year. Find the sum borrowed.


very urgent​

Answer 1

Answer:

Solution:-

Amount with interest paid at the end of first year = Rs. 12600.

A = P (1+r/100)ⁿ

Principal at the starting of the first year = 12600 = P (1+5?100)¹

12600 = 105P/100

P = (12600 × 100)/105

P = Rs 12000.  

Amount with interest paid at the end of second year = Rs 17640.

Principal at the starting of second year = 17640 = P (1+5/100)¹

17640 = 105P/100

P = (17640 × 100)/105

P = Rs 16800

Total sum borrowed = 12000 + 16800 = Rs 28800.

Step-by-step explanation: