find the principal when the final amount is ₹2400 at 20% p. a. for 2 years
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In the context of borrowing, principal is the initial size of a loan; it can also be the amount still owed on a loan. ... For instance, if your loan has a principal amount of $10,000 and an annual interest rate of 5%, you will have to pay $500 in interest for every year the loan is outstanding.Aug 18, 2020
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