Question

- A sum of money amounts to 8820 in 2yr
and 12005 in 4yr at the compound
interest. The principal amount is​

Answer 1

Answer:

At 2 years the value is 8820 and it will be P for the next 2 years, which will mature for 12005.

8820 x (1+ (R÷100)^2 = 12005.

(1+ (R÷100))^2 = 12005 /8820= 1.3611111111

Now coming to first 2 years,

P x ((1+ (R÷100))^2 = 8820.

P x 1.3611111111 = 8820.

P = 8820 / 1.3611111111 = ₹6,480.