Question

14) A sum of money becomes rupees 6615 at a compound interest rate of 5% per annum in 2 years find the principal at the beginning of the second year.

answer will be Rs 6,300​

Answer 1

Answer:

If you know the answer so why you asked?

Solution:

Let say Principal at the beginning of 2nd year = P Rs

Rate of interest = 5 %

Amount after 2 years = Rs 6615

hence interest earned in 2nd year = 6615 - P Rs

Interest earned in 2nd year = P * 5 * 1 /100

=> P/20 = 6615 - P

=> 21P/20 = 6615

=> P = 315 * 20

=> P = 6300

principal at the beginning of second year. = Rs 6300

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