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CBSE Class 8 Answered

On a certain sum of money compound interest earned at the end of 3 years is 1456 rupeescompound interest at the end of 2 years is 880 compute the  principal invested
Asked by meghanayadav482 | 14 Jul, 2019, 08:50: PM
answered-by-expert Expert Answer
On a certain sum of money compound interest earned at the end of 3 years is 1456.
Hence, P(1 + r/100)3 - P = 1456
P[(1 + r/100)3 - 1]....(i)
On a certain sum of money compound interest earned at the end of 2 years is 880.
Hence, P(1 + r/100)2 - P = 880
P[(1 + r/100)2 - 1] = 880 ....(ii)
Dividing (i) by (ii) we get
begin mathsize 16px style fraction numerator straight P open square brackets open parentheses 1 plus begin display style straight r over 100 end style close parentheses cubed minus 1 close square brackets over denominator straight P open square brackets open parentheses 1 plus straight r over 100 close parentheses squared minus 1 close square brackets end fraction equals 1456 over 880 end style Put begin mathsize 16px style open parentheses 1 plus straight r over 100 close parentheses equals straight m end style and solve it further you will get r and then find P.
Answered by Sneha shidid | 15 Jul, 2019, 10:02: AM

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