intermediate(ipc)course (no) (1460 Points)
05 September 2011i have a problem that i can't solve the math question of a.p & g.p.the question is .1).at 10% c.i p.a.,a sum of money accumulated to 9625 in 5 yrs.the sum invested initially is ?2).population of a country was 55 crore in 2005 & is growing at 2% p.a c.i.the population is the year 2015 is estimated as ?
answer : 1).Rs.5370.96
2).none.
* Krishna *
(CA Student)
(6149 Points)
Replied 05 September 2011
The growth of population is usually geometric. Formula for this problem will be P=A(1+0.2)*t
Population (P) = A (55 crore) * (1+0.20) * 10 years = 66 crores.
Note: 2% p.a. becomes 0.2 and t=10 years above is calculated from 2005 to 2015 and A=55 crore population in 2005.
Let others comment.
Ankit Hinduja
(Student)
(1227 Points)
Replied 05 September 2011
For 1. u have to use the formula A=P(1+i)*n , where A=9625, i=0.1,n=5.
(1+i)*n=1.61051, thereforeP=9625/1.61051, which equals to 5976.37 which is the correct answer.
U can counter check it by finding compound interest=3648.633 and so C.I. and P add upto 9625 which is the amount..
So, the correct answer is 5976.37.
For2. u have to use, A=P(1+i)*n, where P=55,i=0.02,n=10(2015-2005)
(1+i)*n=1.21899 , P=55 , therefore A=1.21899 * 55 =67.044 i.e. 67 crores which is the correct answer.
kushal goenka
(student)
(156 Points)
Replied 05 September 2011
@ ankit it cant be only 67 crore bcoz. 0.044crore itself represents a huge number of population so answer is none
kushal goenka
(student)
(156 Points)
Replied 06 September 2011
for question number 1 u can use formula of compound amount
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