Question

A CERTAIN SYM AMOUNTS TO RUPEES 72900 IN 2 YEARS AT 8% PER ANNUM COMPOUND INTEREST , COMPOUNDED ANNUALLY .FIND THE SUM

Answer 1

Answer:

Rs 62500

Step-by-step explanation:

Amount = P(1 + r/100)ⁿ

72900 = P(1 + 0.08)²

72900 = 1.1664P

P = 72900 ÷ 1.1664

P = Rs 62500

Answer: The principal amount is  Rs 62500