Question

what amount will yield 17355 year if the rate of interest at 15% per annum

Answer 1

Principal Amount =P= ?

No.of periods= n = 1 year

Rate of interest Per Annum= i = 15%

Compounded amount= 17355

we know that

compounded amount = P(1+i)^n

17355= P(1+15/100)^1

17355=P(1 +0.15)

17355=P(1.15)

17355/1.15 = P

15091.3 = P = Principal Amount