Question

find the principal if the compound interest at the rate of 5% compounded annually for 3 years is 1261 explain in brief

Answer 1

Answer:

Step-by-step explanation:

Atq ,

The rate of interest is 5%

The time is 3 years

The compound interest is given 1261

So ,

" p (1+r/100)^3-p=1261

=p (1+5/100)^3-p=1261

=p (105/100)^3-p=1261

=p×21/20×21/20×21/20-p=1261

=9261p/8000-p=1261 (here 21×21×21=9261&20×20×20=8000)

=9261p-8000p/8000=1261

=1261p/8000=1261(here 9261p-8000p=1261p)

So,

=p=1261×8000/1261(shifting 1261/8000to the other side)

=p=8000(1261 is cancelled with 1261)

Hope it helps