Question

Find the time in which ₹2000 will amount to ₹2330 at 11% p.a.​

Answer 1

Let Principal =

′

P

′

Amount =Rs9856

R

1

=10%

R

2

=12%

T=2 year

A=P(1+

100

R

1

)(1+

100

R

2

)

⇒9856=P(

70

11

)(

25

28

)

⇒P=

11×28

9856×10×25

=8000

Hence, Principal is Rs8000.