What sum invested for 2 years at 12
Asked by admin @ in Math viewed by 512 People
What sum invested for 2 years at 12% compounded annually will glow to Rs.4390.40?
(a) Rs.4000
(b) Rs.3500
(c) Rs.3800
(d) Rs.3875
Answered by admin @
CI=P[1+(R/100)]^n
4390.40=P[1+(12/100)]^2
4390.40×(25/28)^2=P
P=4390.40×625/784
P=1097.60×625/196
P=22.4×625/4
P=5.6×625
P=28×125=700×5=3500
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