the difference between simple interest and compound interest on a certain principal at 15% p. a. for 3year is 2296.35 find the principal
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principal =?
time = 3 year
rate = 15 percent
SI = 2296.35 ( let the amount = simple interest )
Simple interest = prt / 100
2296.36 = p* 15 * 3/ 100
2296.36* 100 = p* 15 *3
229636/ 15*3 =p
5103.022 = p
so principal= 5103.022
use this formula - Amount = p (1+r/100)t
after that when amount will found so you Compound interest = Amount - principal
time = 3 year
rate = 15 percent
SI = 2296.35 ( let the amount = simple interest )
Simple interest = prt / 100
2296.36 = p* 15 * 3/ 100
2296.36* 100 = p* 15 *3
229636/ 15*3 =p
5103.022 = p
so principal= 5103.022
use this formula - Amount = p (1+r/100)t
after that when amount will found so you Compound interest = Amount - principal
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