What sum of money will amount to Rs. 5,445 in 2 years at 10% per annum compound interest ? Given : P= Rs. 5,445 ; n = 2 years and r = 10% Amount = `"P"( 1 + "r"/100 )^n` ⇒ 5,445 = `"P"( 1 + 10/100 )^2` ⇒ 5,445 = `"P"( 11/10 )^2` ⇒ P = `5,445( 10/11 )^2` ⇒ Rs. 4,500 Concept: Concept of Compound Interest - Inverse Formula Is there an error in this question or solution? |