Question

On what sum will the compound interest at 5% per annum for 2 year compounded annually be ₹1640 ?

Answer 1

Formula for CI is A-P So first we will calculate the amount  Let the Pricipal be x. We can calculate using formula  A=P(1+(r/100))^n where n is the duration of time or time  A=P(1+5/100)^2 A=441P/400; CI=441P/400 - P =41P/400 ATQ, 41P/100=1640P=( 1640*400)/41 P=16000

Answer 2

Answer:

p=16,000

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