find the sum , invested at 10persent compounded annually , on which the interest for thrid year exceeds the interest of the first year by ruppes 252

Asked by marimuthud13 | 21st Jul, 2021, 08:31: PM

Expert Answer:

Let P be the principal Amount
 
Interest at end of  first year = (10P) /100 = 0.1 P
 
Interest after end of 3rd year = p[ 1 +  ( 10 /100) ]3  - p = [ (1.1)3 - 1 ] p = 0.331 p
 
Difference of 3rd year and first year interest = ( 0.331 - 0.1 ) P = 0.231 P = Rs. 252
 
Hence principal amount P = Rs. ( 252 / 0.231 ) = Rs. 1091

Answered by Thiyagarajan K | 17th Sep, 2021, 03:26: PM