The difference between the CI and SI on a certain amount at 10% per annum for 2 years, compounded annually is Rs. 372. Find the principal.
Rs. 37,200
Rs. 35,200
Rs. 39,200
Rs. 33,200
Explanation:
Let the principal be a.
SI = a×2×10100=a5a×2×10100=a5 and CI = Amount – a = a(1+10100)2(1+10100)2– a = 21100×a21100×a
CI – SI = Rs. 372
21100×a−a521100×a−a5 = Rs. 372
a = Rs. 37,200
Let the principal be a.
SI = a×2×10100=a5a×2×10100=a5 and CI = Amount – a = a(1+10100)2(1+10100)2– a = 21100×a21100×a
CI – SI = Rs. 372
21100×a−a521100×a−a5 = Rs. 372
a = Rs. 37,200