Question

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

Answer 1

Answer:

P = Rs2500

Step-by-step 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.

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

So, the sum of money is Rs 2500.