Question

the compound interest on a certain sum of money at 5% for 2 years is rs 287.Find the sum.​

Answer 1

Answer:

bro you can use this formula

Answer 2

Therefore the sum = Rs. 2,800

Step-by-step explanation:

Compound interest: The principal of compound interest changes after 1 year if the rate interest in annually.

The principal of second year = The initial principal+interest of first year

Let the principal be x

The formula to find the principal we need to use the following formula

$A=P(1+r)^n$

A= amount of certain year after=Rs.(x+287)

P= Principal=?

r= rate of interest= 5%=0.05

n = time = 2 years

Putting the all values in the above formula

$x+287=x(1+0.05)^2$

$\Rightarrow x+287 = 1.1025x$

$\Rightarrow 1.1025x-x=287$

$\Rightarrow 0.1025 x = 287$

$\Rightarrow x=\frac{287}{0.1025}$

⇒x = 2800

Therefore the sum = Rs. 2,800