Ashna invested a certain sum of money at the compound interest of 8% per annum compunded annually. At the end of 2 years, she received an amount of ₹7290. How much amount did Ashna invest?
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p(1/100)n formula put
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amount=interest + principle
there they said the amount is 7290
and it is compounded annually
formula for compounded interest is
(1+r/100)^n
n= terms
r=rate
basically
let's take principle as x
then,
x+(1+8/100)^2= 7290
if we solve it we get,
x+729=7290
X=7290-729
x=6561
PRINCIPLE IS 6561
there they said the amount is 7290
and it is compounded annually
formula for compounded interest is
(1+r/100)^n
n= terms
r=rate
basically
let's take principle as x
then,
x+(1+8/100)^2= 7290
if we solve it we get,
x+729=7290
X=7290-729
x=6561
PRINCIPLE IS 6561
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