Question

On what sum will compound interest at 5 per annum for 2 year compounded annually be 492

Answer 1

Answer:

446.25

Step-by-step explanation:

Here,A=492 & p=finding number

then,

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

492=p(1+5/100)^2

492=p(105/100)^2

492/(105/100)^2=p

492*100/105*100/105=p

therefore p=446.25