Q9 of 52 Page 112

Let us write by calculating what sum of money at the rate of 8% compound interest per annum for 3 years will amount to ₹31492.80.

Let principal = ₹x


At the rate of 8% compound interest per the annum the amount for 3 years



= ₹1.259x


∴ Compound interest for 3 years =₹ (1.259x – x)


By the condition, 1.259x – x = 31492.80


⇒ 0.259x = 31492.80


∴ x = 121593.82


∴ Principal is ₹121593.82


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