Question

Compound Interest is charged on a certain
sum for 3 years at 15% per annum. If the
amount becomes Rs 700, determine the
principal.​

Answer 1

Answer:

In Exercise 14.3 of Chapter 14, we shall discuss how to compute each of the three quantities, i.e., P, T, R when sufficient data is given. RD Sharma Solutions is the best study material, which is developed in accordance with the latest CBSE pattern available. Solutions here are solved and prepared by our faculty team in a step by step format which helps students understand the concept easily, which in turn, helps in scoring good marks in their exams when practised regularly. Students can download the pdf material from the links provided below.

Answer 2

Given : Compound Interest is charged on a certain sum for 3 years at 15% per annum.  the amount becomes Rs 700,

To Find : determine the principal

Solution:

Principal  = P

Rate of interest  R  = 15 %

Time  n  =  3    

A = 700

A  = P(1  + R/100)ⁿ

=> 700 = P(1  + 15/100)³

=> 700 = P ( 1.15)³

=> P  =  460.26   Rs

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