A sum of money amounts to ₹13,225 in 2 years at 15% Compound Interest annually. Find the sum.

Question

Accepted Answer

1. Use the compound interest formula: $A=P(1+r)^n$.  
2. Here $A=13225$, $r=0.15$, $n=2$. So $13225=P(1.15)^2$.  
3. Compute $(1.15)^2=1.3225$.  
4. So $P=13225/1.3225=10000$. The sum is **₹10,000**.  
FINAL_ANSWER: <a>

Answer

Answer

Answer