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A Certain Sum Amounts to Rs 5832 in 2 Years at 8% Compounded Interest. Find the Sum. - Mathematics

Sum

A certain sum amounts to Rs 5832 in 2 years at 8% compounded interest. Find the sum.

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Solution

Let the sum be P . 
Thus, we have: 
\[A = P \left( 1 + \frac{R}{100} \right)^n \]
\[5, 832 = P \left( 1 + \frac{8}{100} \right)^2 \]
\[5, 832 = 1 . 1664P\]
\[P = \frac{5, 832}{1 . 1664}\]
\[ = 5, 000\]
Thus, the required sum is Rs 5, 000.

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APPEARS IN

RD Sharma Class 8 Maths
Chapter 14 Compound Interest
Exercise 14.3 | Q 18 | Page 21
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