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On what sum will the compound interest at 5% per annum for 2 years compounded annually be Rs.164?

Posted by Jaspreet Kaur 5 years, 4 months ago

CBSE > Class 08 > Mathematics

1 answers

Jaspreet Kaur 5 years, 4 months ago

Given details are, Rate = 5 % per annum Compound Interest (CI) = Rs 164 Time (t) = 2 years By using the formula, Let P be ‘x’ CI = A – P 164 = P (1 + R/100) n – P = P [(1 + R/100)n – 1] = x [(1 + 5/100)2 – 1] = x [(105/100)2 – 1] 164 = x ((1.05)2 – 1) x = 164 / ((1.05)2 – 1) x = 164 / ((1.05)2 – 1) = 164/0.1025 = Rs 1600 ∴ The required sum is Rs 1600

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Posted by Monika 8B 5 months, 3 weeks ago

CBSE > Class 08 > Mathematics