Question

A sum amount to rupees 4410 after two years at 5 per cent compound interest per annum. What is the principal

Answer 1

Step-by-step explanation:

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We know that Compound Interest = p(1+r/100)^n-1

But here the Amount is given so we'll use A=p(1+r/100)^n

Now by formula,

4410 = p(1+5/100)^2

4410 = p(1+0.05)^2

4410 = p(1.05)^2

4410 = p(1.1025)

4410/1.1025 = p

4000 = p

So the principle is Rs. 4000 answer.

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