find the principal that will amount to RS 8,480 in 3 years at the rate of 2% p.a.
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Answer:
⇒ Here A=Rs.9744,T=2years,R
1
=16% and R
2
=20%
⇒ A=P×(1+
100
R
1
)×(1+
100
R
2
)
⇒ 9744=P×(1+
100
16
)×(1+
100
20
)
⇒ 9744=P×
25
29
×
5
6
∴ P=9744×
29
25
×
6
5
∴ P=Rs.7000
hope, it will help you
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