If the compound interest on a certain sum for 2 years at 10% per annum

1.	If the compound interest on a certain sum for 2 years at 10% per annum is rs 1050, thesum is
Answer» ANSWER: Step-by-step EXPLANATION: CI = 1050 Rs r = 10 % per annum t = 2 years # Solution - COMPOUND interest over sum p is given by FORMULA - CI = P [(1+r)^t - 1] 1050 = P [(1 + 10/100)^2 - 1] 1050 = P [(1+0.1)^2 - 1] 1050 = P [1.1^2 - 1] 1050 = P [1.21 - 1] 1050 = P × 0.21 P = 1050 / 0.21 P = 5000 Rs Therefore, sum is 5000 Rs.

If the compound interest on a certain sum for 2 years at 10% per annum is rs 1050, thesum is

Answer»

Step-by-step EXPLANATION:

CI = 1050 Rs

r = 10 % per annum

t = 2 years

# Solution -

COMPOUND interest over sum p is given by FORMULA -

CI = P [(1+r)^t - 1]

1050 = P [(1 + 10/100)^2 - 1]

1050 = P [(1+0.1)^2 - 1]

1050 = P [1.1^2 - 1]

1050 = P [1.21 - 1]

1050 = P × 0.21

P = 1050 / 0.21

P = 5000 Rs

Therefore, sum is 5000 Rs.