Annie wants to order 30 custom cupcakes for a party. The Sunflower Bakery sells cupcakes for $18 per dozen cupcakes. The Whaler
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.