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ICSE Class 9 Answered

Find the principal if the C.I for 2 years at 5% is `410.  
Asked by shivampatel213 | 12 Mar, 2019, 02:07: PM
answered-by-expert Expert Answer
Amount A for a principal p if interest is compounded annualy is given by,  A = p [ 1 +(r/100) ]n , where r is rate of interest
 
if Rs. 410 is the compound interest, then we have 
 
p [ 1 +(5/100) ]2 - p = 410   or   p { [ 21/20 ]2 -1 } = 410  or    p (41/400) = 410    or  p = Rs. 4000
Answered by Thiyagarajan K | 12 Mar, 2019, 03:01: PM

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