Question

What sum of money will amount to 1560 Rs in 3 years 4

months at 9 p.a compound interest​

Answer 1

Definition of principal

Definition and meaning of interest

Formula to calculate the amount

Definition and meaning of simple interest

Formula to calculate simple interest

Verbally related problems on simple interest

Answer 2

Answer:-

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Given:

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• Amount (A) = Rs.1560

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• Time (t) = 3 years 4months(3⅓yrs.)

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• Rate of C.I.(r) = 9%

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To Find:

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• Principal (P)

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Solution:

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According to given conditions;

Amount = Rs.1560

➨ P × ${(1+\frac{r}{100})}^{t}$ = 1560

➨ P × ${(1+\frac{9}{100})}^{3⅓}$ = 1560

➨ P × ${(\frac{109}{100})}^{\cancel3×\frac{1}{\cancel3}}$ = 1560

➨ P × $\frac{109}{100}$ = 1560

➨ 109 P = 1560×100

➨ P = 156000 ÷ 109

➨ P = 1431.1926605..

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∴ P = Principal = Rs.1431 (approx.)

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Formula to be remembered:-

▪︎Amount = P × ${(1+\frac{r}{100})}^{t}$

▪︎C.I. = Amount - Principal