To save money, you put $200 in your bank account each week. After saving for 4 weeks, you have $1,700 dollars in your account. W
2 answers:
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Given:
Amount = Rs. 34476
Rate of compound interest = 4%
Time = years
To find:
The principal value.
Solution:
Formula for amount is
Where, P is principal value, r is rate of interest and t is time in years.
Putting the given values, we get
Now,
Therefore, the value of sum or principal value is Rs.31256.