Question

Find the sum which will amount to 20808 at
the rate of 2% p.a. after 2 years.
( Its a question of compound Interest)
(Please give step by step solution)​

Answer 1

Answer:

Amount is 20808

Rate is 2%p.a.

Time is 2years

using formula A=P(1+R/100)TIME

20808=P(100+2/100)2

20808=P(102/100)2

20808=P(1.02*1.02)

20808=1.0404P

20808/1.0404=P

20000

Thank you

I hope it will help