Question

Find the principal when C. I. For 2years at the rate of 4% p.a. , interest compounded annually is ₹102

Answer 1

Step-by-step explanation:

t=2 years

r=4%

ci=102

amount= p*(1+r/100)^t

=p*(1+4/100)^2

amount -p = ci

p*(1+4/100)^2-p=102

p*((1+4/100)^2-1)=102

p*((104*104/100*100)-1) =102

p*((10816-10000/100*100)) =102

p*((816/10000)) =102

p=102*10000/816=2250

so principal equal to 2250