Question

Find the principal if compound interest is charged at
the principal at the rate of 16.66% per annum for two
years and the sum becomes Rs 196. ​

Answer 1

Answer:

Let the principal be P

sum at maturity = P(1+16.66/100)^2

196=P(1.1666)^2

P=196/(1.1666)^2= 144.16

66