Sunil earned Rs.2828.80 as compound interest on a certain principal over two years at an annual interest rate of 8%. What is the total amount he received after two years, including the principal and interest?

Explanation

Let the principal amount be Rs. P. The compound interest for 2 years at 8% per annum is given by P[(1 + 0.08)^2 - 1] = 2828.80. Simplifying, P × 0.1664 = 2828.80, so P = 2828.80 / 0.1664 = 17,000. Therefore, the total amount after 2 years is principal plus interest = 17,000 + 2,828.80 = Rs. 19,828.80.