Question

Find the principal if compound interest is ₹331, rate is 10% per annum compounded annually and time is 3 years. ​

Answer 1

Solution: We are given that CI = ₹331, R = 10% per annum, and n = 3 years.

Let the principal be P.

Then, the amount , A = P +CI = ₹ (P + 331)

and A = P (1+R/100)ⁿ

=> P + 331 = P (1+10/100)³

=> P = 331 × (1000/331) = 1000

Hence, the principal is ₹1000.

Extra Information

Interest compounded yearly (or annually)

= R% per annum

= n years

=> A = P(1+R/2/100)^2×n

Interest compounded half - yearly (or semi - annually)

= R/2% per half - year

= (2×n) half - years

=> A = P(1+R/2/100)^2×n

Answer 2

Answer:

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