Question

What sum of money will amount to Rs 3630 in 2 years at 10% p.a. compound interest​

Answer 1

Answer:

GIVEN

Amount (A) = Rs 3630

Time (T) = 2 years

Rate of interest (r) = 10 % per annum

TO FIND

The principle (p)

SOLUTION

Let the principle amount be = x

$amount \: = p(1 + \frac{r}{n} ) {}^{nt} \\ \\ = > 3630 = x(1 + \frac{10}{100} ) {}^{2} \\ = > x = ( \frac{100}{110} ) {}^{2} \times 3630 \\ = > x = 3000$

The sum 3000 amounts to Rs. 3630

Hence, Solved.