Question

find the principal if it amounted to rs.16335 compounded annually at the rate of 10%p.a. in 2 yrs... ( ans. is 13500)

Answer 1

We know that A = P(1 + r/100)^n

                        16335 = P(1 + 10/100)^2

                        16335 = P(1.21)

                        16335/1.21 = P

                        13500 = P.


Therefore the principal = 13500.


Hope this helps!

Answer 2

Hi,

Please see the attached file!

Thanks