Start learning 50% faster. Sign in now
Let the principal be P. Using the compound interest formula: A = P(1 + r/100)^t Where A is the amount, P is the principal, r is the rate of interest, and t is the time in years. Given, A = ₹12,960, r = 10%, t = 2 years. Substitute these values into the formula: 12,960 = P(1 + 10/100)^2 12,960 = P(1.1)^2 12,960 = P × 1.21 Now, solve for P: P = 12,960 / 1.21 P = ₹10,710.74 So, the principal is approximately ₹10,710. Correct Option: b
Which of the following statements is FALSE regarding computerised accounting?
A trial balance is an internal financial report, critical to the book-keeping and accounting process. What purpose does a trial balance serve?
If the Opening Debtors were Rs.50,000 and Closing debtors are Rs.40,000, what effect will it have on the cash flow statement?
Which of the following assessee is not liable to pay advance tax u/s 207?
What is the maximum age of Presiding Officer of Tribunal under Employees Provident Fund and Miscellaneous Act?
_______ refers to the information collected by an auditor to ascertain the accuracy and compliance of a company's financial statements.
Which of the following accounts in insurance company reportingtracks the revenue and expenses related to policyholders?
Which ICDS deals with Accounting Policies?
Which of the following statement is incorrect?
In relation to the computation of total income, which of the following statements is INCORRECT?