A trader invest huge Amount in a bank at 5% rate in 2years compound interest,and get 2,205,000,how much is the money invested

Answer 1

The money invested is 2,000,000.

The formula for compound interest is A = P(1 + r/n)^nt, where A is the amount, P is the principal, r is the rate, n is the number of times the interest is compounded per year, and t is the number of years.

Substituting the given values, we get:

2,205,000 = P(1 + 0.05/2)^2*2

Solving for P, we get:

P = 2,000,000

Answer 2

2,000,000