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RD Sharma Solutions Class 8 Mathematics Solutions for Compound Interest Exercise 14.2 in Chapter 14 - Compound Interest

Question 34 Compound Interest Exercise 14.2

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

Answer:

Given details are,

Amount = Rs 5832 \

Time = 2 years

Rate = 8%

Let principal be = P

By using the formula,

A = P (1 + R/100)^n

5832 = P (1 + 8/100)^2

5832 = P (1.1664)

P = 5832/1.1664

= 5000

∴ Required sum is Rs 5000

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