Question

Of the compound interest (compounded annually) on a certain sum of money for 2 years at 20% p.a. is rs. 880, what is the principal amount

Answer 1

I = amount × year × rate / 100

I =880
a= @
y= 2
r= 20

880 = @ ×2 × 20 / 100
@ = 880× 100 / 2 × 20
@ =2200 ₹

@ = amount. ,

the amount = 2200 ₹