what sum of money will the compound interest for 2 years at 5% per annum amount to rupees 768.75
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Let the sum(P)
be Rs x.
Given
Time period (n)= 2 years
Rate of interest (r) = 5%
Amount (A) = Rs 768.75
A = P (1 + r/100)^n
768.75 = x (1 + 5/100)²
768.75 = x (1 + 1/20)²
768.75 = x (21/20)²
768.75 = x (441/400)
x = 768.75 * 400/441
x = Rs 692 .28 (nearly)
The sum of money = Rs 692.28
be Rs x.
Given
Time period (n)= 2 years
Rate of interest (r) = 5%
Amount (A) = Rs 768.75
A = P (1 + r/100)^n
768.75 = x (1 + 5/100)²
768.75 = x (1 + 1/20)²
768.75 = x (21/20)²
768.75 = x (441/400)
x = 768.75 * 400/441
x = Rs 692 .28 (nearly)
The sum of money = Rs 692.28
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