Question

if the amount after 1 Whole 1/2 years at the rate of 25percent per annum compounded half-yearly is €10935,find the principal.​

Answer 1

Answer:

Principal = 7680

Step-by-step explanation:

Compound interest formula is $A = P (1+ \frac{r}{n} )^{nt}$

Solving,

$10935 = P (1 + \frac{0.25}{2} )^{2*1.5}$

i.e. $10935 = P * 1.423$

i.e. $P = 7680$