Question

find the sum of money which amount to 96000 rupees after 2 years if the rate of interest is 7% B.Ed compounded annually

Answer 1

96000×2×7÷100
960×14
it is simple interest

Answer 2

Hii friend here is your answer

Let the sum be Rs P

Amount =Rs96000

Time=2years

Rate of interest =7%

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

P(1+7/100)^2=96000

107/100*107*100*P=96000

P=96000*107/100*107/100=Rs83850.11
Hence the principal is Rs83850.11
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