The maturity value of a certain sum after two years at 20% p.a. interest compounded annually is Rs.14,400/-. Find the principal amount.
A. Rs. 9,000
B. Rs. 9,500
C. Rs. 10,000
D. Rs. 10,500
Answer:C
The maturity value of a certain sum after two years at 20% p.a. interest compounded annually is Rs.14,400/-. Find the principal amount.
A. Rs. 9,000 B. Rs. 9,500 C. Rs. 10,000 D. Rs. 10,500