what sum of money will amount to rupees 1764 when deposited for 2 years at 5% per annum compounded annually?
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Step-by-step explanation:
a = 1764
T = 2 yrs
R = 5%
A = p[1+ r/100] ^n
1764 = p[ 1 + 5/ 100 ] ^2
1764 = p[21/20]^2
1764 = p[441/400]
1764 x 400
—————-
441 = p= 1600
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