If the CI(Compounded annually) on a sum of money for 3 years at the ra

1.	If the CI(Compounded annually) on a sum of money for 3 years at the rate of 2% per annum is ₹ 306.04, then what will be the SIplz answe me
Answer» Hey Mate, Here's your answer, ___________________ => Compound Interest = ₹306.04 => TIME = 3 years => Rate = 2% => Compound Interest for 3 years at 2% pa = 306.04 => SAY Principal = p, we have => (p(102/100)^3)-p = 306.04 => 1.061208p - p = 306.04 => 0.061208p = 306.04 => p = 306.04/ 0.061208 => p = 5000 => SI = 50002/1003 = 300*. ___________________ $hope \: it \: helps$

If the CI(Compounded annually) on a sum of money for 3 years at the rate of 2% per annum is ₹ 306.04, then what will be the SIplz answe me

Answer»

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=> Compound Interest = ₹306.04

=> TIME = 3 years

=> Rate = 2%

=> Compound Interest for 3 years at 2% pa = 306.04

=> SAY Principal = p, we have

=> (p*(102/100)^3)-p = 306.04

=> 1.061208p - p = 306.04

=> 0.061208p = 306.04

=> p = 306.04/ 0.061208

=> p = 5000

=> SI = 5000*2/100*3 = 300.

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$hope \: it \: helps$