Question

On what sum will the cI at 5% pa from 2 years
Compounded annually be 1640?​

Answer 1

Answer:

Given details are, Rate = 5 % per annum Compound Interest (CI) = Rs 164 Time (t) = 2 years By using the formula, Let P be ‘x’ CI = A – P 164 = P (1 + R/100) n – P = P [(1 + R/100)n – 1] = x [(1 + 5/100)2 – 1] = x [(105/100)2 – 1] 164 = x ((1.05)2 – 1) x = 164 / ((1.05)2 – 1) = 164/0.1025 = Rs 1600 ∴ The required sum is Rs 1600.Read more on Sarthaks.com - https://www.sarthaks.com/670474/what-sum-will-the-compound-interest-at-5-per-annum-for-years-compounded-annually-be-rs-164

Answer 2

Answer:

Here's the ans hope it's helpful for you☺

Step-by-step explanation:

CI= 1640

CI = P(1+R/100)^n-1 (formula)

1640 = P(1+5/100)^2-1

1640 = P(1+0.05)^2-1

1640 = P(1.05)^2 - 1

1640 = P (0.1025)

P= 1640/0.1025

P=16,000

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