Question

Find the principal which gives an Amount of $ 4116 at the rate of 8% for 5 years.

Answer 1

Answer:

Principal= 2940

Step-by-step explanation:

Amount=4116

Rate=8%

Time=5Years

(Amount×100) ÷ { 100+ (Time×Rate) }

• (4116×100) ÷ { 100+ ( 5 × 8 ) }
• 411600 ÷ { 100+ (40) }
• 411600 ÷ 140
• 2940

Hence Principal Is 2940

Thanks !!!!