Question

What sum will amount to 28750 in 4 years at 8% p.a compound interest.

Answer 1

Answer:

36216.72

Step-by-step explanation:

A=28750×1+8÷100√4

=28750×27÷25×27÷25×27÷25

=36216.72

Answer 2

Answer:

The sum amount to 28750 in 4 years at  8% p.a compound interest = Rs.  21139.70

Step-by-step explanation:

Given,

Amount  =A = 28750

Time  = 4 years

Rate of interest = 8%

To find,

The principal

Solution:

Recall the formula

Amount with Compound interest = A =$P(1+\frac{r}{100})^n$

Substituting the given values, we get

28750 = $P(1+\frac{8}{100})^4$

= $P({\frac{108}{100} )^4$

= P(1.08)⁴

P =$\frac{28750}{(1.08)^4}$

= $\frac{28750}{1.36}$

P = 21139.70

The sum amount to 28750 in 4 years at  8% p.a compound interest = Rs.  21139.70

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