Question

Find the principal which amounts to rupees 898.88 at the end of 2 years at the rate of 6 percent p.a. Interest compounded annually

Answer 1

just use the formula,
\[A(amount)=P(principal)(1+r(rate)/100)^n\]
n= no. of years = 2
r=6 (given)
A=898.88
just plug in values and find P.

Answer 2

don't have 2 use Compound Interest formula.

Answer 3

then, whats to be used ?

Answer 4

k

Answer 5

my answer is P = rs. 800

Answer 6

thats absolutely correct!
good work :)

Answer 7

thank u

Answer 8

welcome ^_^