hapis has four buckets. The buckets hold 4700ml,4.8l,3880ml,and 4.71 l hapis wants to to use the bucket that holds the closest t
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Given:
Amount = 8700
Time = 3 years
Rate of interest = 24% per annum
To find:
The principal values.
Solution:
Formula for amount:
Where, A is amount, P is principal, r is the rate of interest and t is the number of years.
Putting , we get
Divide both sides by 1.906624.
Therefore, the principal value is about 4563.04.