Multiple choice

What is the sum should be invested if final amount =$2809$ and compound interested for $2$ years at $6\%$ per annum?

  1. $Rs. 1575$
  2. $Rs. 2000$
  3. $Rs. 2500$
  4. $Rs. 2250$
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Amount = P * (1 + r/100)^n. 2809 = P * (1 + 0.06)^2 = P * (1.06)^2 = P * 1.1236. P = 2809 / 1.1236 = 2500.

AI explanation

Using the compound interest formula where Principal equals Amount divided by the quantity of 1 plus Rate divided by 100 raised to the time, we substitute the given values. The principal equals 2809 divided by the quantity 1.06 raised to the power of 2. Calculating 1.06 squared gives 1.1236, and dividing 2809 by 1.1236 yields a sum of 2500.

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