Question

Find the principal if the compound interest at the rate of 5% per annum compoun annually for 3 years is 1261

Answer 1

let the principal be x Rs

Then,

CI = P[(1+R/100)^T -1]

=> 1261 = x[(1+5/100)^3-1]

=>1261 = x(9261/8000 -1)

=>1261 = x(1261/8000)

=>1261 = (1261x/8000)

=> x = 1261×8000/1261

=> x = 8000 Rs

I hope that it will help you ✌