Question

the man borrowed a sum of money and agrees to pay to pay off by paying Rupees 3150 at the end of first year and Rupees 4410 at the end of the second year if the rate of compound interest is 5% p a find the sum borrowed ​

Answer 1

Answer: the answer is 7000 rupees

Step-by-step explanation:

Amount after first year = 3150

Amount after second year =4410

According to the formula

Amount=principal (1+rate/100)^time

Let the principal be P .

3150=P (1+5/100)^1

3150=P (1+1/20)

3150=P (21/20)

P= 3000 rupees .

Similarly ,

4410=P (1+5/100)^2 (amount is for 2 yrs .)

4410=P (21/20)^2

4410×20×20/21×21=P

P=4000

Therefore total P =3000+4000 =7000

HOPE IT HELPS .....

Answer 2

Answer:

The Sum borrowed = rupees 7000

Step-by-step explanation:

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