A sum amounts to ₹ 1352 in 2 yr at 4% compound interest. The sum is

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Accepted Answer

Using the formula, A = p ( 1 + R/100 )n ⇒ 1352 = p(1 + 4/100 )2 ⇒ 1352 = p(1.04 )2 ∴ p = 1352/(1.04)2 = ₹ 1250

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