Question

Find the sum that amounts to rs.3025 at 10% p.A

Answer 1

P = Rs2500

Explanation:

Given that,

Amount, A = Rs 3025

Rate, r = 10%

Let time, t = 2 years

We need to find the sum if the amount is compounded annually. Using the formula of compound interest.

`A=P(1+(r)/(100))^n\\\\P(1+(10)/(100))^2=3025 \\\\P(1.21)=3025\\\\P=(3025)/(1.21)\\\\P=\text{Rs}\ 2500`

So, the sum of money is Rs 2500.