Salma invested a certain amount of
money in a bank which gives an interest rate of 10% compounded annually. How
much did she invest at the start if she got 10,000 sh at the end of 2 years?
solution
n=2, T=1, R=10%, A2=8000,
P=?
An = P(1 + RT/100)n
A2 = P(1 + (10x1)/100)2
A2 = P(1 + 10/100)2
A2 = P(100/100
+ 10/100)2
A2 = P(110/100)2
But A2=8000,
10,000 = P(1.1)2
10,000 = 1.21P
10,000 = 1.21P
1.21
1.21
10,000 = P
1.21
P = 8264.46
Hence at the start she invested Tsh 8264.46
TRY THIS……………………..
Salma invested a certain amount of
money in a bank which gives an interest rate of 10% compounded annually. How
much did she invest at the start if she got 15,000 sh at the end of 3 years?
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