Mahesh deposits a certain sum at an annual interest rate of 20%, with the interest compounded annually. At the end of 2 years, Mahesh receives a total of ₹26,316 as the amount. What was the sum deposited by Mahesh?
₹18,275
Amount = \(P\left(1 + \frac{R}{100}\right)^T\).
\(26316 = P \times (1.2)^2 = 1.44P\)
\(P = \frac{26316}{1.44} = 18275\)
Hence, the answer is ₹18,275.
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