Question

what sum of money will amount to rupees 18150 in 2 years at 10% per annum compounded annually

Answer 1

18150= x(1+10/100)^2
18150=x(11/10)^2
18150=x(121/100)x
x= 18150×100/121=15000

Answer 2

Heya ✋

Let see your answer !!!!

Given that

A = ₹18,150

T = 2 years

R = 10 % p.a.

P = ?

Solution

When the interest is compounded annually

A = P(1 + R/100)^n

=> 18,150 = P(1 + 10/100)^2

=> 18,150 = P(100 + 10/100)^2

=> 18,150 = P(110/100)^2

=> 18,150 = P(11/10)^2

=> 18,150 = P × 121/100

=> P = 18,150 × 100/121

=> P = ₹15,000

Thanks :)))))