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Rahamanchacha deposited some money in a Co-operative Bank at the rate of 9% compound interest and he received amount Rs. 29702.50 after 2 years. Find how much money Rahamanchacha had deposited in Co-operative Bank. |
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Answer» Let Rahamanchacha had deposited Rs. X in the bank. `:.` The amount of Rs.x in 2 years at the rate of compound of 9% per annum. `=Rs.x xx(1+9/100)^(2)=Rs. x xx(109/100)^(2)` `=Rs.x xx(109xx109)/(100xx100)` As per question `x xx(109/100)^(2)=29702.50` `impliesx xx(109xx109)/(100xx100)=29702.50` `impliesx=(29702.50xx100xx100)/(109xx109)=25000` Hence Rahamanchacha had deposited Rs. 25000 in the Co-operative Bank. |
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