Question

A sum of money amounts to 10240 in 2 years at 6 2/3 per annum compound annually find the sum

Answer 1

$r=6 2/3=20/3$

C.I=A-P

$A=p(1+r/100)^t$

$10240=p(1+20/3*100)^2$

$10240=p(1+20/3*100)^2$

$10240=p(0.4)^2$

$10240/0.4^2=p$

$10240*10*10/4*4=p$

$10,24,000/16=p$

$64,000=p$

i don't this is the correct answer or no.

i think this is not bcoz the amount is less and the principal is more.if correct then pls mark me brainlist.