A sum of money is borrowed and paid back in two annual installments of Rs.882 each allowing 5% C.I.The sum borrowed was:Rs.1680Rs.1142Rs.640Rs.1640
Question
A sum of money is borrowed and paid back in two annual installments of Rs.882 each allowing 5% C.I.The sum borrowed was:Rs.1680Rs.1142Rs.640Rs.1640
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Solution 1
This problem can be solved using the formula for compound interest.
The formula for compound interest is A = P(1 + r/n)^(nt), where:
- A is the amount of money accumulated after n years, including interest.
- P is the principal amount (the initial amount of money).
- r is the annual interest rate Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study prob
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
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