Question

the principal that amounts to rs. 4913 in 3 years at 6 1/4 % per annum c.i. compounded annually, is?

Answer 1

Dear Student,

◆ Answer -

Principal = 24631 Rs

● Explaination -

# Given -

CI = 4913 Rs

r = 6.25 % per annum

t = 3 years

# Solution -

Compound interest over sum p is given by formula -

CI = P [(1+r)^t - 1]

4913 = P [(1 + 6.25/100)^3 - 1]

4913 = P [(1+0.0625)^3 - 1]

4913 = P [1.0625^3 - 1]

4913 = P [1.2 - 1]

4913 = P × 0.2

P = 4913 / 0.2

P = 24631 Rs

Therefore, principal is 24631 Rs.

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Answer 2

the principal that amounts to rs. 4913 in 3 years at 6 1/4 % per annum c.i. compounded annually, is?