Question

on what sum of money will the compound interest for 2 years at 5 percent per annum amount to 768.75( pls note that the ci is 768.75). thanks in advance​

Answer 1

Answer:

CI =P(1+r/100)n- P

768.75=p (1 +5/100) 2-P

768.75=P(1.05) 2-P

768.75=p(1.1025-1)

768.75=PX0.1025

P=768.75/0.1025 = Rs 7500