Question

Sum of money amounts to Rs. 453690 in 2 years at 6.5% per annum compounded annually. Find the sum.

Answer 1

Given, 

Amount = Rs.453690 

Time = 2 years 

Rate = 6.5 % p.a 

Let principal = Rs. P 

So,

A \(={P}[({1}+\frac{R}{100})^T]\)

\(={P}[({1}+\frac{6.5}{100})^2]\) = 453690

\(={P}\times\frac{213}{200}\times\frac{213}{200}\) = 453690

\(={P}=\frac{453690 \times 200 \times 200}{213\times213}\) = Rs. 400000

Hence , 

Principal = Rs. 400000