Ram borrowed a certain sum of money and paid it back in 2 yrs equal installment. if the rate of compound interest was 4% p. a and he paid back rs 1352 annually what sum did he borrowed ?​

2250

Step-by-step explanation:

We want the amount paid, or the present value of the two payments

there are a couple of ways to do this, but because  there are only two cashflows I think it's easier to just discount them manually

1352*(1/1.04)+1352*(1/1.04)²

This is equal to

2250

the nearest power is 1.651.

means 7482 to the 1.651th power is almost equal to 2489287

step-by-step explanation:

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