Question

. A sum of money amounts to 3 9261 in 3 years at 5% p.a. compounded annually. Find the sum
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Answer 1

Answer:

hey there!

Step-by-step explanation:

Given:

Amount=Rs. 39261

Time=3 yrs.

Rate of interest= 5%

Let the principal be x.

Simple interest=P×R×T/100=x×5×3/100=3x/20

Amount= Principal +S.I.= Rs.(3x/20+x)

=Rs. 23x/20

But according to question,

Amount= Rs.39261

So,

23x/20=39261

23x=20×39261

x=20×39261/23

x=1707

We have assumed x as principal.

Thus, Principal=1707

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