Compound Interest Part 5

Problem 1: P=?, R=20%, T=1 year 73 days, C.I=1240

Solution:

Fraction for 20%=\frac{1}{5}

\frac{6}{365}\times 73=1.2

5+1.2 =6.2 is C.I

6.2———–>1240

25————->?

\frac{1240\times 25}{6.2}=5000 is principle.

Problem 2: P=?,R=12\tfrac{1}{2}%, T=1 year 4 months, C.I=1782

Solution:

Fraction for 12\tfrac{1}{2}% is \frac{1}{8}

8+1=9

\frac{9}{12}\times 4=3

8+3=11

11———->1782

64————>?

\frac{1782\times 64}{11}=10468 is principal.

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