A sum of money fetches Rs. 408 as compound Interest at the rate of 4 p.c.p.a at the end of 2 years what is the sum?

Question

Please log in or register to answer this question.

RakshitKumar · Answer 1 · 2021-10-09T12:06:19+0000

Let sum = 1000

4% of 1000 for 2yr = 80

4 % of 40 = 1.6

CI = 81.6 equivalent to 408

ie 5 times

So sum is also 5 times assumed sum = 5000