What principle will amount to ₹20800 in 2Years at The Rate of 2% p.a.
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Principal Amount =P= ?
No.of periods= n = 2 years
Rate of interest Per Annum= i = 2 %
Compounded amount = P(1+i)^n
20800 = P(1+2/100)^2
20800=P(1 +0.02)^2
20800=P (1.02)^2
20800= P(1.0404)
20800/1.0404 = P
19992.3(Approx) = P = Principal Amount
No.of periods= n = 2 years
Rate of interest Per Annum= i = 2 %
Compounded amount = P(1+i)^n
20800 = P(1+2/100)^2
20800=P(1 +0.02)^2
20800=P (1.02)^2
20800= P(1.0404)
20800/1.0404 = P
19992.3(Approx) = P = Principal Amount
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