Question

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

Answer 1

Answer:

Amount=700,rate=15%,no. of years =3

amount=p(1+r/100)^n

700=p(1+15/100)^3

p=700×(100/115)^3

p=460.26

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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