Question

a certain amount to ₹ 2970.25 in 2 years at 9% compounded annually find the sum

Answer 1

Solutions :-


Given :

Amount (A) = ₹ 2970.25
Time (t) = 2 years
Rate (r) = 9% p.a


Find the principle (p) :-

A = p (1 + r)^t

=> 2970.25 = p (1 + 9%)²
=> 2970.25 = p (1 + 0.09)²
=> 2970.25 = p (1.09)²
=> 2970.25 = p × 1.1881
=> p = 2970.25/1.1881 = 2500


Hence,
Principle = ₹ 2500

Answer 2

Here is your solution

Given that :-

Amount  = ₹ 2970.25

Time  = 2 years

Rate  = 9% p.a

To Find the principle :-

We know that

A = p (1 + r)^t

=> 2970.25 = p (1 + 9%)²

=> 2970.25 = p (1 + 0.09)²

=> 2970.25 = p (1.09)²

=> 2970.25 = p × 1.1881

=> p = 2970.25/1.1881

=> p = ₹ 2500

Hence,

Principle  is ₹ 2500

Hope it helps you