Question

find the principal if the difference between compound interest and simple interest on it at 15% p.a for 3years is rupees 1134.

Answer 1

Answer:

16000

Step-by-step explanation:

Let's consider the Principal amount as P.

Hence, the C. I. = P*(1+R/100)ⁿ - P

And S. I. = P*n*R/100

Given C. I. - S. I. = 1134

P*(1+R/100)ⁿ - P - P*n*R/100 = 1134

P*(1+15/100)³ - P - P*3*15/100 = 1134

P*(115/100)³-P*(1+45/100) = 1134

P*(23/20)³-P*(145/100) = 1134

P*(23³/20³-29/20) = 1134

P*((23³-29*20*20)/20³) = 1134

P*((12167-11600)/8000) = 1134

P*567/8000 = 1134

P = 1134*8000/567

P = 2*8000

P = 16000