Question

find the principle if the compound interest at the rate of 5% per annum compounded annually for 3 years is rs.1261. please send ans. by solving in copy

Answer 1

$<b><i>$Given,

R = 5% p.a.

T = 3 years

A = Rs 9261

Let the principal be Rs P.

We know that

$\sf{A = P \times (1 + \frac{R}{100} ) {}^{T}}$

$\sf{\implies{9261 = P \times (1 + \frac{5}{100} ) {}^{3}}}$

$\sf{\implies{ 9261 = P \times \frac{21}{20} \times \frac{21}{20} \times \frac{21}{20}}}$

$\sf{\implies{ P = \frac{9261 \times 20 \times 20 \times 20 \times 20}{21 \times 21 \times 21}}}$

$\sf{\implies{P = 20 \times 20\times 20}}$

$\sf{\implies{ P = 8000}}$

Hence, the principal is Rs 8000