Question

on what sum of money will the compound interest for 2 years at 5 percent per annum amount to 768.75

Answer 1

Answer:

7500

Step-by-step explanation:

int=A-P

=P[1+(r/100)]^n-P

so

768.75=P[1+0.05]^2-P

=P(1.05^2)-P

=P*1.1025-P

=P(1.1025-1)

=0.1025*P

so P=768.75/0.1025

=7500