Question

# A certain sum amounts to Rs. 5832 in 2 years at 8% compounded interest. Find the sum.

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Solution

## Amount (A) = Rs. 5832 Let P be the sum Rate (r) =8% p.a Period (n) = 2 years. A=P(1+R100)n⇒P=A÷(1+R100)n ⇒P=Rs.5832÷(1+8100)2 =Rs.5832÷(2725)2=Rs.5832×(2527)2 =Rs.5832×2527×2527=8×625=Rs.5000 ∴ Sum = Rs. 5000

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