Question

On what sum of money will compound interest for 2 years at 5% per year amount to Rs 164?

Answer 1

$\huge\underline\mathfrak\red{Question}$

On what sum of money will compound interest for 2 years at 5% per year amount to Rs 164?

$\large{\sf{\purple{SolutiOn-}}}$

$\pink{\bold{\underline{\underline{Given\::-}}}}$

C.I. = ₹164

R = 5 % p.a.

T = 2 years

P = ?

$\large{\sf{\pink{So,}}}$

$\large{\sf{\pink{When\:the\:interest\:is\:compounded\:annually.}}}$

C.I. = P{(1+R/100)^n - 1}

=> 164 = P{(1+5/100)² - 1}

=> 164 = P{(100+5/100)² - 1}

=> 164 = P{(105/100)² - 1}

=> 164 = P{(21/20)² - 1}

=> 164 = P{441/400 - 1}

=> 164 = P{441 - 400/400}  

=> 164 = 41P/400

=> P = 164 × 400/41

=> P = ₹1,600

❥ItzJanu143