Question

The principal, which will amount to 270.40 in 2 years at the rate of 4% per annum compound interest, is

Answer 1

Answer:

250.37

Step-by-step explanation:

Let Principal be x

than

SI=P×R×T/100=x×4×2/100=8/100x

Amount=P+SI=x+8/100x=108/100x

Than

108/100x=270.40

108/100x=27040/100

108x=27040/100×100

x=27040/108=250.37Ans...