find the principal that will yield and interest of rupees 3607.50 in 4.5 years at 3.5 % per annum
Answers
Answered by
4
Answer:
Rs. 22905
Step-by-step explanation:
SI = PNR / 100
3607.50 = P * 4.5 * 3.5 /100
360750 = P * 15.75
P = Rs. 22905 (approx.)
Answered by
32
Answer:
Depends on whether it is the simple interest or compound interest.
If simple interest : the principal is : 22, 904.76
if compound interest : 21, 546.07
Step-by-step explanation:
If it is a simple interest then:
interest = principal * period * rate of interest
SI = P * n * r
3, 607.50 = principal * 4.50 * 3.50/100
Principal = 22, 904.76
If it is the compound interest then:
CI = P * ( 1 + r/100)ⁿ
3,607.50 = P * (1 + 4.50/100)⁴°⁵⁰ - P
P = 3,607.50 / [ 1.045⁴°⁵⁰ - 1 ]
= 21, 546.07
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