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%
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4
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.
Answered by
0
The compound interest formula is CI=A-P
Here, Compound interest CI= Rs.3520
Rate of interest r=20% =0.2
Time t=2 year
Substitute the values,
3520=P[1.44−1]
3520=P[0.44]
P=8000
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