Question

Difference between simple interest and compound interest is 1282 on certain amount for 4 years at 10% p.A. Is rs 1282, what is the principal

Answer 1

Answer:

1205

Explanation:

use both formulas for simple interest and compund interest:

PRT - P( 1 + R/100)^N

= P*10%*4  - P(1+10/100)^4 = 1282

THEREFORE P = 1205