Question

what amount of money should Mohan invest in bank in order to get 1323 in two years 5% compounded interest​

Answer 1

please mark brilliant

Answer 2

Given:-

• $\sf{A = Rs.1323}$
• $\sf{R = 5\%}$
• $\sf{T = 2\:years}$

To find:-

Principal

Solution:-

We know,

$\sf{A = P\bigg(1 + \dfrac{r}{100}\bigg)^t}$

= $\sf{1323 = P\bigg(1 + \dfrac{5}{100}\bigg)^2}$

= $\sf{1323 = P\bigg(\dfrac{105}{100}\bigg)^2}$

= $\sf{1323 = P\times\dfrac{105}{100}\times\dfrac{105}{100}}$

= $\sf{P = 1323\times\dfrac{100}{105}\times\dfrac{100}{105}}$

= $\sf{P = 1200}$

$\sf{\therefore Mohan\:Should\:invest\:Rs.1200}$

Additional Information:-

• P = Principal
• T = Time
• R = Rate
• A = Amount
• CI = Compound Interest

• To find CI we first need to find the Amount then subtract the Principal from Amount.

• $\sf{A = P\bigg(1 + \dfrac{r}{100}\bigg)^t}$
• $\sf{CI = A - P}$