Question

Find the sum which amounts to Rs.40000 in 2 yrs at the rate of 31/2% compounded annually.

Answer 1

Answer:

173.16

Step-by-step explanation:

Let the sum be p.

=> 40000 = p(1 + 31/200)^2

=> 200 = p(231/200)

=> p = 40000/231 = 173.16

Therefore answer is 173.16

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