Question

find the principal that will yield a compound interest of RS1632 in 2years at 4% rate of interest per annum

Answer 1

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A = P (1 + r/100)^t

A = 1632 (1 + 4/100)^2

A = 1632 × 104/100 × 104/100

A = 17651712/10000

A = 1765.1712

C.I = A - P

= 1765.1712 - 1632

= Rs. 133.1712 ans.

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Answer 2

Solution :-

Compound Interest = Amount - Principal

C. I. = P(1 + R/100)ⁿ - P 

Given : -

Rate of Interest = 4 %, Time = 2 years and Compound Interest = Rs. 1632

⇒ 1632 = P(1 + 4/100)² - P

⇒ 1632 = (P × 104/100 × 104/100) - P

⇒ 1632 = (P × 1.0816) - P

⇒ 1632 = 1.0816P - P 

⇒ 0.0816P = 1632

⇒ P = 1632/0.0816

⇒ P = Rs. 20000

So, the Principal is Rs. 20000