Question

the compound interest on a certain principal at a rate of 5% per annum compounded annually is rupees 210 in second year. then find the principal.​

Answer 1

Answer:

CI = ₹210

R = 5 %

T(n) = 2 yr

CI = p(1 + r/100)^n - p

210 = p [( 1+ 5/100) ^2 - 1]

210 = p [(21/20) ^2 - 1] taking LCM

210 =p [ (441-400)/400]

210 = P* 41 /400

210*400 /41 = P

2048.78 = p