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.
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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
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