Question

A sum of money amounts to 66,836.70 in 2 years at 3% p.a. compound interest. The sum is​

Answer 1

Answer:

answer = 44,250,072.69375

Answer 2

Answer:

Principle amount = 63,000

Step-by-step explanation:

Principle = p = ?

Rate of interest = i = 3%

Time = n = 2 yrs

Amount = 66,836.70 [ p + i ]

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We know that,

$\bold{Amt = p(1+i)^n}$

$\bold{66,836.70 = p(1+0.03)^2}$

$\bold{66,836.70 = p(1.03)^2}$

$\bold{66,836.70 = p(1.0609)}$

$\bold{\green{\boxed{P = 63,000}}}$