A certain sum amounts to Rs 5832 in 2 years at 8% compounded interest. Find the sum.

Explanation

To find the principal sum (P) that amounts to Rs. 5832 in 2 years at an 8% compounded interest rate, we can use the formula for compound interest:

\[ A = P \left(1 + \frac{R}{100}\right)^N \]

Where:
- \( A \) = Amount after time \( N \)
- \( P \) = Principal amount (initial sum)
- \( R \) = Rate of interest per annum
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