A certain sum at 2% p.a. compounded annually returns an amount of Ruppees 2080 .8 after 2 yrs . Find the sum.
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Answer:
A=P[1+R/100]^T
2080.8=P[1+2/100]^2
2080.8=P[102/100]^2
2080.8=P*102/100*102/100
2080.8=P*1.02*1.02
P=2080.8/1.02/1.02
P=2000 rupees.
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