Accountancy, asked by janajaivid8241, 1 year ago

A sum of money is paid back in two annual installments of ₹ 17,640 each, allowing 5% compound interest compounded annually. the sum borrowed was

Answers

Answered by haihaaaminath
2

The formular for compound interest:

A = p* ( 1 + r/100 )^n

A = 17640* ( 1+ 5/100 )^2

A = 19448.1

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