What amount of money Mohan invested in a bank in order to get rs. 1323 in 2 years at 5% compounded annually.
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What amount of money Mohan invested in a bank in order to get rs. 1323 in 2 years at 5% compounded annually.
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ci = compound interest = ₹1323
n = years = 2
r = rate = 5%
p = principle = ?
therefore,
principle amount is ₹12907.3171
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