Question

On what sum will the compound interest at 15/2 percentage per annum for 3 years compounded annually by ₹3101.40?

Answer 1

Hi ,

rate of interest ( r ) = 15/2 %

Time ( T ) = 3 years

number of times interest paid ( n ) = 3

amount ( A ) =Rs 3101.40

Let the principal = p

we know that ,

A = P ( 1 + r / 100 )^n

3101.40 = p ( 1 + 15/200 )³

3101.40 = p ( 1 + 3/40 )³

3101.40 = p( 43/40 )³

( 310140 ×40 × 40 × 40 )/(100 ×43 ×43 ×43 )= P

2496.50 = p

Therefore ,

p = Rs 2496.50

I hope this helps you.

:)

Answer 2

On what sum will the compound interest at 15/2% per annum for 3 years compounded annually be rs.3,101.40?

Given: R= 15/2% , n= 3 years

Let the principal be ₹100

Amount (A) = P(1+R/100)^n

A= 100 (1+15/200)^3

A= 100( 1+3/40)^n

A= 100( 43/40)³

A= 100 (79507/64000)

A= 79507/640

A=₹ 124.23

Compound Interest (C.I)= A-P

C.I= 124.23 - 100= ₹24.23

If compound interest is ₹24.23, principal = ₹100

If compound interest is ₹1 , principal= 100/24.23

If compound interest is ₹ 3101.40 ,principal= (100/24.23)× 3101.40

= 310140/24.23= 12799.83

∴the sum isis ₹ 12799.83 or~~ 12800...