Question

find the principal when final amount is 2420 Rupees at 4% per annum for 2 1/2 years

Answer 1

Assumed simple interest

Find the total interest:

interest per year = 4%

Interest for 2 1/2 year = 4 x 2 1/2 = 10%

Find the principal:

Principal = 100%

Principal + Interest = 100 + 10 = 110%

Principal + Interest = Rs 2420 (Given)

110% = 2420

1% = Rs 22

100% = 22 x 100 = Rs 2200

Answer: The principal amount is Rs 2200

Answer 2

Answer:

find principal when final amount is 2420 Rate 4% per annum for 5/2 yers