Q23 of 89 Page 14

A sum of money deposited at 2% per annum compounded annually becomes Rs. 10404 at the end of 2 years. Find the sum deposited.

Given,


Rate of interest = 2% p.a


Time = 2 years


Amount = Rs.10404


Let principal = Rs. P


So,


A =


=


=


=


Hence,


Principal = Rs.10000


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