Maths / Comparing Quantities / Compound Interest Half Yearly

QUESTION
 

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

EXPLANATION
Explain TypeExplanation Content
Text

Let the sum be x

A=Pleft ( 1+frac{r}{100} right )^t

r=8 %

t = 2 years

A = Rs. 5832

Substitue in equation and solve for x

x = Rs.5000

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