14. Find the principal if the compound interest at the rate of 5% per annum compounded
annually for 3 years is?
Answers
Answered by
3
CI = Principal (1 + rate/100)^t - P
1261 = P (1 + 5/100)³ - P
1261 = P (1 + 1/20)³ - P
1261 = P (21/20)³ - P
1261 = P [ 9261/8000- 1 ]
1261 = P 1261/8000
P = 1261 * 8000/1261
P = 8000
Hence principal is 8000.
Mark me brainiest
1261 = P (1 + 5/100)³ - P
1261 = P (1 + 1/20)³ - P
1261 = P (21/20)³ - P
1261 = P [ 9261/8000- 1 ]
1261 = P 1261/8000
P = 1261 * 8000/1261
P = 8000
Hence principal is 8000.
Mark me brainiest
Similar questions