The difference between the compound and Simple interest on a certain principal at 15% per annum for 3 years is 2296.35. Find the principal.
please help me. its urgent
please help me. its urgent
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Answer: R = 15 %. (N=TIME)
T =3 years
p.a = 15÷3 = 5
suppose principal =100
SI = PTR÷100 = 100×3×15÷100 =45
COMPOUND INTEREST= P(1+R÷100)N
=100(1+15/100)3
LCM= 100×23/20×23/20×23/20
= 12167/80 = 152.09
CI =(15209/100-100) = 15209-10000/100 =
5209/100
Difference between CI-SI = 52.09-45 = 7.09
When the difference is = 7.09 - the principal is 100
when difference is 2296.35 = 100×100/709×229635/100 = 229635/709 =
rupees 32388.58
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