Question

If the amount after 2 years at the rate of 6% per annum compounded annually is rupees12,000, find the principal.
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Answer 1

Answer:

10680 or 10679.95

Step-by-step explanation:

a = p(1+r/100)^2

hope this helps

Answer 2

Answer:

• Principal is Rs 10679.9573 .

Step-by-step explanation:

Given :-

• Amount is Rs 12000 .
• Time is 2 years.
• Rate of interest is 6%.

To find :-

• Principal.

Solution :-

• Interest is compounded annually.

So,

$\boxed{\sf \bold{Amount = P \bigg( 1 + \dfrac{r}{100} \bigg)^{n}}}$

Where,

• P is principal, r is rate of interest and n is time.

So,

First we will find value of $\sf \bigg(1 + \dfrac{r}{100} \bigg)^{n}$

Put the values :

$\sf \longrightarrow \bigg( 1 + \dfrac{6}{100} \bigg)^{2}$

$\sf \longrightarrow \bigg( \dfrac{100 + 6}{100} \bigg)^{2}$

$\sf \longrightarrow \bigg( \dfrac{106}{100} \bigg) ^{2}$

$\sf \longrightarrow \dfrac{11236}{10000}$

$\sf \longrightarrow \bold{1.1236}--------(i)$

Now,

Put all values in amount formula :

$\sf \longrightarrow 12000 = P \times \bigg(1 + \dfrac{6}{100} \bigg)^{2}$

$\sf \star \: By \: equation \: (i) \: \bigg(1 + \dfrac{6}{100} \bigg)^{2} \: is \: equal \: to \: 1.1236 .$

$\sf \longrightarrow 12000 = P \times 1.1236$

$\sf \longrightarrow \dfrac{12000}{1.1236} = P$

$\longrightarrow \purple{\boxed{ \bold{P = 10679.9573}}}$

Therefore,

Principal is Rs 10679.9573 .