Question

What amount of money should mohan invest in a banl in order to get rupees 1323 in 2 years at 5percentage compounded annually?​

Answer 1

Answer:

here A=1323

time(t)=2y

rate of interest (r)=5%

as we know, A=P(1+r/100)™

1323=P(1+5/100)⅔2

1323=P(1.05)(1.05)

1323=P(1.1025)

1323/1.1025=P

P=1200

Answer 2

a bank to work in order to get rupees 1323 in 2 years at 5% compounded annually.