Question

What is the principal, if it amounts to 3528 at 5 p.c.p.a. compound interest
for 2 years?
(1) 3200 (2) 3000 (3) 2800
(3) 2800 (4) 3100
​

Answer 1

Answer:

(2) 3200

Step-by-step explanation:

3528=P(1+5/100)²

3528= P(11025/10000)

P=3528/1.1025

P=3200