To find the principal
We are given n, A, and r
We have to find P by the formula
Find the principal when the compound interest for 4 years at 6% is 525.
Let principal = P, , r = 6%, C.I = 525
We know that
To find the rate
When P, n, A are given
We have to find r by using the same formula
Find the rate of interest compounded per annum for 3 years so that Rs.4000 becomes 4635.50
Let A = 4635.50, P = 4000, , r = ?