Question

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

Answer 1

Given, 

Amount = Rs.5832 

Time = 2 years 

Rate = 8% 

Let principal = P 

So,

A \({P}[({1}+\frac{R}{100})^T]\)

\(={P}[({1}+\frac{8}{100})^2]\) = 5832

\({P}\times\frac{27}{25}\times\frac{27}{25}\) = 5832

\(={P}=\frac{5832 \times 25 \times 25}{27\times27}\) = Rs. 5000

Hence, 

Principal = Rs.5000