Question

Please solve this without using unitary method
Compound interest on a certain sum of money is at 5% p.a for two years is 287 Find the sum

Answer 1

Answer:P=1332aprox

Step-by-step explanation:

GIVEN

ci=287

r=5%

n=2

p=?

C.i=p(1+r/100)n-1

                         2

287=p(1+5/100) -1

                         2

287=P(105/100)  -1

287=P x 0.21550625

287/0.21550625=P

P=1332aprox