find the principal, if the compound interest compounded annually at rate of 10% per annum for 3 yr is rupees 331.
please answer fast and right
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Answer:
Step-by-step explanation:
Given:
Rate(R)=10%
Time(n)=2 years
Compound intrest(C.I)=Rs. 210
To find:
Principle(P)
We know that:
C.I=P[(1+
100
R
)
n
−1]
Solution:
⇒C.I=P[(1+
100
R
)
n
−1]
⇒210=P[(1+
100
10
)
2
−1]
⇒210=P[(
100
110
)
2
−1]
⇒210=P[(1.1)
2
−1]
⇒210=P[1.21−1]
⇒210=P[0.21]
⇒P=
0.21
210
⇒P=1000
∴the required answer is Rs.1000
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