Question

Jharana got Rs.1881 interest of certain sum for 2year at 9% compounded yearly.find the sum.​

Answer 1

The principal sum is Rs.10,000

Step-by-step explanation:

The formula of compound interest is:

$I=P(1+\frac{r}{n})^{nt}-P$ where:

• I is the interest
• P is the principal investment amount (the initial deposit or loan amount)
• r is the annual interest rate (decimal)
• n is the number of times that interest is compounded per unit t
• t is the time the money is invested or borrowed for

Jharana got Rs.1881 interest of certain sum for 2 year at 9%

compounded yearly

∵ I = Rs.1881

∵ r = (9/100) = 0.09

∵ n = 1 ⇒ compounded yearly

∵ t = 2 years

Substitute all of these values in the rule above

∴ $1881=P(1+\frac{0.09}{1})^{(1)(2)}-P$

∴ 1881 = P(1 + 0.09)² - P

∴ 1881 = P(1.09)² - P

∴ 1881 = 1.1881 P - P

∴ 1881 = 0.1881 P

- Divide both sides by 0.1881

∴ P = 10,000

The principal sum is Rs.10,000

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