Question

the difference between Compound Interest and Simple Interest on a certain sum of money at 10 % per annum for 3 years is Rs. 930. Find the principal if it is known that the interest is compounded annually

Answer 1

Answer : ....

Principal = Rs. 30000

Answer 2

Answer:

Rupees 30,000

Step-by-step explanation:

Rate=10%                                                                                                                         Time=3 years                                                                                                                      Difference between CI and SI = Rs930                                                                          

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.                                                                                                                                           Lets take principal as x

CI=P[1+R/100]^t

   =x[1+10/100]^3

   =x[110/100]^3

   =x*1331000/1000000

   =1331/1000x-x

   =1331x-1000x/1000

   =331x/1000

SI=P*R*T/100

  =x*10*3/100

  =30x/100

  =3x/10

CI-SI=331x/100-3x/10

So,as given 331x/100-3x/10=930

331x-300x/1000=930

31x/1000=930

31x=930*1000

x=930*1000/31

x=30,000

So,principal is Rs 30,000

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