Question

What is the principle amount which earns rs252 as a compound interest for 2 years at rate 10% per annum?

Answer 1

Answer:

Rs 1200

Step-by-step explanation:

What is the principle amount which earns rs252 as a compound interest for 2 years at rate 10% per annum?

Let say principle amount = P Rs

Interest Rate = 10 % Per annum

Time = 2 Years

Compound Interest for 2 Years = P ( 1 + R/100)^t  - P

= P(1 + 10/100)² - P

= P (1.1)² - P

= 1.21P - P

= 0.21P

0.21P = 252

=> P = 1200

principle amount which earns rs252 as a compound interest for 2 years at rate 10% per annum = Rs 1200