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An amount of money lent at compound interest amounts to rupees 1323 is 2 years at 5 %compound interest. The sum is ?
Most Upvoted Answer
An amount of money lent at compound interest amounts to rupees 1323 is...
Calculation of Sum using Compound Interest
Given
- Amount = Rs. 1323
- Time = 2 years
- Rate of interest = 5%
Formula
Compound interest formula is given as:
A = P(1 + r/n)^(nt)
- A = Final amount
- P = Principal amount
- r = Rate of interest
- n = Compounding frequency
- t = Time period
Solution
Using the given data, we can calculate the principal amount as:
1323 = P(1 + 0.05/1)^(1*2)
1323 = P(1.1025)
P = 1323/1.1025
P = 1200
Answer
The principal sum is Rs. 1200.
Community Answer
An amount of money lent at compound interest amounts to rupees 1323 is...
Let the principle be 100
then the compound interest at 5% for 2 year will be 10.25
so the amount will be 110.25.
The given amount was 1323.
so 110.25 = 1323
then 1 = 1323/110.25,
1=12,
100 = 1200
hence the sum is 1200.
then the compound interest at 5% for 2 year will be 10.25
so the amount will be 110.25.
The given amount was 1323.
so 110.25 = 1323
then 1 = 1323/110.25,
1=12,
100 = 1200
hence the sum is 1200.
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An amount of money lent at compound interest amounts to rupees 1323 is 2 years at 5 %compound interest. The sum is ?
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An amount of money lent at compound interest amounts to rupees 1323 is 2 years at 5 %compound interest. The sum is ? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about An amount of money lent at compound interest amounts to rupees 1323 is 2 years at 5 %compound interest. The sum is ? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for An amount of money lent at compound interest amounts to rupees 1323 is 2 years at 5 %compound interest. The sum is ?.
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