Compound interest

Asked by baidshryans | 26th Nov, 2008, 06:06: PM

Expert Answer:

let principle amount be P and rate ot interset be r.

then by formula of compound interest

1025 = P  (1 + r/100)2

1576.25 = P (1+ r/100)3

divide these two equation and solve for r.

after finding r put it in one of the above equation and find P.

Answered by  | 30th Nov, 2008, 01:46: AM

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