Question

Sanjay invest a sum of rs p at rate of 20% per amnum on compound interest for three years if interset earned is 2730 find value of p+ interedt

Answer 1

Answer: Principal=Rs.P (Given).

Rate=20%, time period=3 years.

Compound interest=2730

We know, Amount=Principal(1+(r/100))^n; where n is the number of years.

So, A=P(1+(20/100))^3.

A=P(120/100)^3.

Compound interest=Amount-Principal.

So, C.I.= P(1728000/1000000)-P.

=> 2730=(1728000P-1000000P)/1000000.

=> 2730=728000P/1000000.

=> 2730×1000000=728000P.

=> P=2730000000/728000.

=> P= 3750.

Therefore, principal amount = Rs. 3750.

Explanation: