sum of money at 8% per annum .if he paid mo
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Answered by
25
Answer:
Given
Compounded amount (inclusive of Interest) = A= 37791.36
Duration/Time = n = 3 years
Rate of Interest Per annum= i = 8%
Required to find is P = Principal Amount
we know That..
For compound Interest...
A=P(1+i)^n
substituting above information..
37791.36 = P(1+8/100)^3
37791.36= P(1+0.08)^3
37791.36= P(1.08)^3
37791.36 = P(1.2464)
37791.36/1.2464 = P
30320.41 (Approx..) = P..
so the Principal amount= 30320.41...
Answered by
0
Answer:
Step-by-step explanation:
Compounded amount (inclusive of Interest) = A= 37791.36
Duration/Time = n = 3 years
Rate of Interest Per annum= i = 8%
Required to find is P = Principal Amount
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