Question

What is the principal, if the compound interest compounded annually at the rate of 10% pa for three years is rs 3641?

Answer 1

I don't know anything

Answer 2

Answer:

Principal value is Rs.2735.53.

Step-by-step explanation:

Given : If the compound interest compounded annually at the rate of 10% pa for three years is Rs.3641.

To find : What is the principal?  

Solution :

Using compound interest formula,

$A=P(1+r)^t$

Where, A is the amount  A=Rs.3641

P is the principle    

r is the rate r=10%=0.1

t is the time t= 3 years

Substitute the value,

$A=P(1+r)^t$

$3641=P\times (1+0.1)^3$

$3641=P\times (1.1)^3$

$3641=P\times 1.331$

$P=\frac{3641}{1.331}$

$P=2735.53$

Therefore, Principal value is Rs.2735.53.