Question

Find the principal, if the compound interest at the rate of 20% per annum for 2 years is rs 3520.​?

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Answer 1

Answer:

The principal is Rs.8000.

Step-by-step explanation:

Given : The compound interest at the rate of 20 % per annum for 2 years is rupees 3520.

To find : The principal ?

Solution :

The compound interest formula is CI=A-P

Where, A = P(1+r)^{t}A=P(1+r)

t

So, CI=P(1+r)^{t}-PCI=P(1+r)

t

−P

CI=P[(1+r)^{t}-1]CI=P[(1+r)

t

−1]

Here, Compound interest CI= Rs.3520

Rate of interest r=20% =0.2

Time t=2 year

Substitute the values,

3520=P[(1+0.2)^{2}-1]3520=P[(1+0.2)

2

−1]

3520=P[(1.2)^{2}-1]3520=P[(1.2)

2

−1]

3520=P[1.44-1]3520=P[1.44−1]

3520=P[0.44]3520=P[0.44]

P=\frac{3520}{0.44}P=

0.44

3520

P=8000P=8000

Therefore, the principal is Rs.8000.

#Learn more

Find the Compound Interest on Rs.1,00,000 compounded semi annually for 1.5 years at the rate of 8% per annum.

Answer 2

$\bf \blue{8000}$

Step-by-step explanation:

$\tt{20+20+20× \frac{20}{100} = 44\%}$

$\tt{44 \%= 3520}$

$\tt{100\% = 3520× \frac{100}{44} = 8000}$

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