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If a sum of money grows to $1200 in 2 years at a compound interest rate of 10% p

Practice Questions

Q1
If a sum of money grows to $1200 in 2 years at a compound interest rate of 10% per annum, what was the principal amount?
  1. $1000
  2. $1100
  3. $900
  4. $950

Questions & Step-by-Step Solutions

If a sum of money grows to $1200 in 2 years at a compound interest rate of 10% per annum, what was the principal amount?
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