The sum of money which becomes ₹ 2420 at 10 % rate of

The sum of money which becomes ₹ 2420 at 10 % rate of compound interest after two years is

Given Here , Amount ( A ) = ₹ 2420 , P = ? , Rate ( R ) = 10% , Time = 2 years
Using the given formula ,

A = P		1 +	R		^T
			100

⇒ 2420 = P		1 +	10		²
			100

⇒ 2420 = P		1 +	1		²	= P		11		²
			10					10

⇒ P =	2420 × 10 × 10	= Rs. 2000
	11 × 11