Question

Find the rate at which a sum of money will triple itsel L Juals, 5.) Find the principal, if the compound interest at the rate of 20% per annum for 2 years is 7 3520. inded annually. id 100%​

Answer 1

Answer:

⬛We have,

▫️Let p=x, A=3x.T=10 years,

▫️SI=A−P

▫️=3x−x

▫️=2x

▫️R=P×TSI×100

▫️R=x×102x×100

▫️R=20%

Hence, this is answer.

Answer 2

The compound interest formula is CI=A-P

$\bold{Where, A = P(1+r)^{t}}$

$So, CI=P(1+r)^{t}-P$

$CI=P[(1+r)^{t}-1]$

Here, Compound interest CI= Rs.3520

Rate of interest r=20% =0.2

Time t=2 year

Substitute the values,

$3520=P[(1+0.2)^{2}-1]$

$3520=P[(1.2)^{2}-1]$

3520=P[1.44−1]

3520=P[0.44]

$P=\frac{3520}{0.44}$

P=8000