on a certain principal the c.i compounded annually for the second year at 10% p.a is 132.what is the principal.

• lets say principle=p
  amount after 2 years at 10% compound interest is=p(1+10/100)^2
  so c.i for the second year =p(1+10/100)^2-p(1+10/100)=132
  solving the above equation p=1200
• 7 years agoHelpfull: Yes(0) No(0)
• 120=principal
• 3 years agoHelpfull: Yes(0) No(0)