what principal will amount to Rs 2600 in 3 years at 10% simple interest
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Answered by
29
Initial investment/principal must be = ₹ 2000 for the amount to be ₹ 2600 in 3 years at 10% simple interest.
For simple interest,
Amount = Principal * (1+r * years)
₹ 2600 = Principal * (1+0.1 * 3)
Principal * 1.3 = ₹ 2600
Principal = ₹ 2600 / 1.3 = ₹ 2000
For simple interest,
Amount = Principal * (1+r * years)
₹ 2600 = Principal * (1+0.1 * 3)
Principal * 1.3 = ₹ 2600
Principal = ₹ 2600 / 1.3 = ₹ 2000
Answered by
4
Answer:
2000 is the answer 2000 is the answer .
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