Find the principal, if the compound interest (compounded annually) at the rate of 10% per annum for three years is rs 331.
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1
Given,
Compound rate, R = 10% per annum
Time = 2 years
CI = Rs. 420
Let P be the required principal.
A = (P+CI)
Amount, A = {P*[1+ (R/100)]n }
(P+CI) = {P*[1+10/100]2}
(P+420) = P*[11/10]2
P-1.21P = -420
0.21P = 420
Hence, P = 420/0.21 = Rs. 2000.
Alternatively,
We can go through the method option checking. In option checking method, it is always better to choose the middle option first to proceed.
2000(P)---10%↑---→2200-----10%↑--→2420(A).
Then, required principal is Rs. 2000 as it is giving CI Rs. 420 for two years.
Compound rate, R = 10% per annum
Time = 2 years
CI = Rs. 420
Let P be the required principal.
A = (P+CI)
Amount, A = {P*[1+ (R/100)]n }
(P+CI) = {P*[1+10/100]2}
(P+420) = P*[11/10]2
P-1.21P = -420
0.21P = 420
Hence, P = 420/0.21 = Rs. 2000.
Alternatively,
We can go through the method option checking. In option checking method, it is always better to choose the middle option first to proceed.
2000(P)---10%↑---→2200-----10%↑--→2420(A).
Then, required principal is Rs. 2000 as it is giving CI Rs. 420 for two years.
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Answered by
0
Firstly let the SI = PRT
(____) n
100
after it CI= P( 1 + R/4 ) n
__
100
I hope this answers helpful to you
(____) n
100
after it CI= P( 1 + R/4 ) n
__
100
I hope this answers helpful to you
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