A sum amount to ₹1323 in 2 years at 7% p.a, compounded annually. Fin

1.	A sum amount to ₹1323 in 2 years at 7% p.a, compounded annually. Find the sum.
Answer» Answer: LET R% be rate PER annum, then, 1323=1200(1+ 100 r ) 2 ⟹ 1200 1323 =(1+ 100 r ) 2 ⟹ 1200 1323 =(1+ 100 r ) ⟹1.05=(1+ 100 r ) ⟹ 100 r =1.05−1=0.05 ⟹r=100×0.05=5%

A sum amount to ₹1323 in 2 years at 7% p.a, compounded annually. Find the sum.

Answer»

Answer:

LET R% be rate PER annum, then,

1323=1200(1+

100 r

)

2 ⟹

1200

1323

=(1+

100 r

)

2 ⟹

1200

1323

=(1+

100 r

)

⟹1.05=(1+

100 r

)

⟹

100 r

=1.05−1=0.05

⟹r=100×0.05=5%

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A sum amount to ₹1323 in 2 years at 7% p.a, compounded annually. Find the sum.

LET R% be rate PER annum, then,

1323=1200(1+

100

r

)

2

⟹

1200

1323

=(1+

100

r

)

2

⟹

1200

1323

=(1+

100

r

)

⟹1.05=(1+

100

r

)

⟹

100

r

=1.05−1=0.05

⟹r=100×0.05=5%

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