Question

Sum of money amounts to Rs 453690 in 2 years at 6.5% per annum compounded anually.Find the sum.

Answer 1

Answer:

400000

Step-by-step explanation:

A = RS,453690

n =2 yrs

r =6.5%

p=?

A = P(1 +(r/100))^n

453690 = P( 1 + ( 6.5 /100))²

453690 = P (213/200)²

453690 x 200 x 200 / (213 x 213) = P

p = 400000