Question

find the principal that will yield a compound interest of Rs.1632 in 2 years at 4% rate of interst per annum

Answer 1

Answer:

Step-by-step explanation:

compount interest=Amount-principal

Amount=P(1+(r/100))^n

given cI=1632

1632=p(1+4/100)^2-p

1632=p(26/25)^2-p

1632=676p-625p/625

1632=51p/625

p=20,000