Math, asked by chandelsneha37, 1 year ago

What amount of money should mohan invest in a bank in order to get 1323 in 2 years at 5% compounded annually?

Answers

Answered by Harsha200411
205
Amount=principle *(1+5/100)^2
1323=p*(105/100)^2
(1323*100^2)/105^2=p
1200=p
Answered by wifilethbridge
99

Answer:

Rs.1200

Step-by-step explanation:

Amount(A) = 1323

Time (t) = 2 years

number of compounds per year (n) = 1

rate = 5% = 0.05

Formula = A=P(1+\frac{r}{n})^{nt}

Substitute the values .

1323=P(1+\frac{0.05}{1})^{2}

1323=P(1.05)^{2}

1323=P\times 1.1025

\frac{1323}{1.1025}=P

1200=P

Hence Mohan should invest Rs.1200

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