Question

Find the principal that will amount to * 2196 in 4 years at 5.5 per annum,

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Answer 1

Answer:

The principle will be Rs 1772.65

Step-by-step explanation:

Amount = Rs 2196/-

Time = 4 years

Rate, r = 0.055 Per annum

Let principle be P

A=P(1+r)^t

2196=P(1+0.055)^4

P=\dfrac{2196}{(1+0.055)^4}

P=1772.65