Question

Find the principal, il the compound interest
compounded annually at the rate of
years is 281.60​

Answer 1

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Principal=Rs.100

Amount=Rs.121

Time =2 years

Let rate of interest be r%

∴Amount=P(1+

100

R

)

t

⇒121=100(1+

100

r

)

t

⇒(1+

100

r

)

2

=

100

121

⇒1+

100

r

=

10

11

⇒

100

r

=

10

11

−1

⇒

100

r

=

10

1

⇒r=

10

100

⇒10