The sum of money which becomes Rs.2420 at 10% rate of compound interest after two years is

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Asked: January 4, 20222022-01-04T12:11:43+05:30 2022-01-04T12:11:43+05:30Category: Number Puzzles

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Mighty Ashish · Answer 1 · 2022-01-04T12:13:04+05:30

Explanation:

Let the principal = Rs. 100

According to the question,

Rate= 10 % =1\10

Interest = 21

Principal = 100

Amount =21+100=121

121 units…………….2420

1 unit……………2420\121

100 units…………2420\121×100=2,000

∴ Principal=Rs. 2000