find the principal that will yield a compound interest of Rs.1,632 in 2 years at 4% rate of interest per annum
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Hello Dear❤❤
here's ua answer :
Compound intrest C=1632$
Rate R=4%
Year n=?
Thus,
C=P (1+R/100)(raise to power n)-P
GIVEN
1632=P (1+4/100)(raise to power2)-P
1632=(P×1.0816)-P
1632=1.0816P-P
0.0816P=1632
P=1632/10.816
P=20000
here's ua answer :
Compound intrest C=1632$
Rate R=4%
Year n=?
Thus,
C=P (1+R/100)(raise to power n)-P
GIVEN
1632=P (1+4/100)(raise to power2)-P
1632=(P×1.0816)-P
1632=1.0816P-P
0.0816P=1632
P=1632/10.816
P=20000
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