Question

Find the principal if the difference between CI and S.I on it at 15% pa for 3 years is
1134​

Answer 1

Principle = 16000  if the difference between CI and S.I on it at 15% pa for 3 years is  1134​

Step-by-step explanation:

Let say Principle = P

Rate of interest = R = 15% per annum

time = n  = 3 Years

Simple interest = P * R * n/100  

SI = P * 15 * 3 /100 = 0.45P

Compound interest = P(1 + R/100)ⁿ - P

CI = P ( 1 + 15/100)³ - P

CI = P (1.15)³ - P

CI = P ( 1.520875 - 1)

CI = 0.520875P

0.520875P - 0.45P  = 1134

=> 0.070875P = 1134

=> P = 16000

Principle = 16000

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