Question

The difference between the compound interest and simple interest on a certain principal at 15% p.a for 3years is rs. 2296.35. Find the principal.

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Answer 1

Step-by-step explanation:

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