Question

of money grows by Rs 5296 then find the sum of money invested.
8. How much should Ratan invest in an agency which pays interest at the rate of 9% compound
annually to get an amount of Rs 71,286 in 2 years?​

Answer 1

Answers:- Rs. 60002.525

Given

Total Amount (A) = 71286

rate of intrest (R) = 9%

Time (n) = 2 years

to find principle amount p

we know that

A = p( 1 + R/100 ) ^n

substitute given values in identity

71286 = p( 1 + 9/100 ) ^2

71286 = p( (100+9)/100 ) ^2

71289 = p( 109/100 ) ^2

71289 = p( 11881/10000)

p = 71289 × 10000/11881

p = 60002.525

therefore

Required principle amount is

Rs. 60002.525