Question

A certain amount of money invested at 10% per annum compound interest for two years became rs. 2000. What is the initial investment?

Answer 1

Step-by-step explanation:

a=p(1+r/100)^t

2000=p(1+10/100)^2

2000=p×11/10×11/10

p=2000×10/11×10/11

p=200000/121=1652.89

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