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A Principal Amounts to ₹13924 in 2 Years by Compound Interest at 18 P.C.P.A. Find the Principal. - SSC (English Medium) Class 8 - Mathematics

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Question

A principal amounts to ₹13924 in 2 years by compound interest at 18 p.c.p.a. Find the principal.

Solution

Here, P = Principal
A = ₹ 13924
R = 18 %
N = 2 years

A = P `(1 + "R"/100)^"N"`

= 13924 = P `(1 + 18/100)^2`

= 13924 = P `(1 + 9/50)^2`

= 13924 = P `(59/50)^2`

= P = `(13924 xx 50 xx 50)/(59 xx 59)`

= P = 10000

Hence, the principal is ₹ 10000.

  Is there an error in this question or solution?

APPEARS IN

 Balbharati Solution for Balbharati Class 8 Mathematics (2019 to Current)
Chapter 14: Compound interest
Practice Set 14.2 | Q: 7 | Page no. 93
Solution A Principal Amounts to ₹13924 in 2 Years by Compound Interest at 18 P.C.P.A. Find the Principal. Concept: Application of Formula for Compound Interest.
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