Question

The Amount received when a sum of Rs.500 i
s invested
at 12% per annum for 2 years, if the interest is
compounded annually is Rs.​

Answer 1

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

Answer 2

Answer:

Rs 1600

Step-by-step explanation:

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 the required sum = Rs 1600