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