Question

41. What principal will amount to Rs.2400 in 4 years at 5% pa​

Answer 1

Answer:

Your answer is 1975

Step-by-step explanation:

Amount=2400

years=4

rate=5%

Formula of compound interest= A=P(1+r/100)^n

= 2400=P(1+5/100)^4

2400=P(1.05)^4

2400=1.215P

2400/1.215=P

P=1975

we will be verify this

P=1975

r=5%

n=4

A=1975(1+5/100)^4

=1975×1.215

A=2399.6 or 2400

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