Math, asked by pareshkumarnayak, 2 months ago

a certain sum of money is invested at 5% interest, compounded annually for 3 years. If the interest computes to rs.2522, then the principal is​

Answers

Answered by Anonymous
1

Answer:

We know the formula for compound interest -

Where,

(

C

I

=

[

P

{

(

1

+

R

100

)

t

1

}

]

)

CI = Compound interest

P = Principal

R = Rate of interest

t = Time period

(

2522

=

[

P

{

(

1

+

5

100

)

3

1

}

]

P

=

2522

1.05

3

1

=

R

s

.16000

)

∴ Principal = Rs. 16,000

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Other Questions

1. If the rate of interest is 8% per annum and Rs. 10000 lent at the compound interest half yearly then calculate the equivalent simple rate of interest for the first year?

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3. The compound interest accrued on an amount of Rs. 25,000 at the end of three years is Rs. 18,200. What would be the simple interest accrued on the same amount at the same rate in the same period?

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7. A person invested in all Rs. 2600 at 4%, 6% and 8% per annum simple interest. At the end of the year, he got the same interest in all the three cases. The money invested at 4% is:

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