Question

On what sum of money will the compound interest for 2 years at 8% p.a. will be ₹7448?​

Answer 1

Rs.6420

Explanation:

we know that A=P(1+r/100)

7488=P(1+8/100)2

7488*10000/108*108=P

P=Rs.6420

Answer 2

Principal=Rs.45000 ; And Amount=Rs.52488.

Explanation:

For finding Principal i used the formula:[ x(1+8/100)^2-x] =C.I ( where x = P)

And for Amount : Sum of principal and interest.

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