6. Find the sum on which the compound interest
for 3 years at 10% per annum amounts to
1,655.
Answers
Answered by
1
Step-by-step explanation:
Let, the sum =P.
Given time (n)=3 years.
Rate of interest (r)=10%.
C.I. = Rs. 1655
Since, Amount (A)=P(1+
100
r
)
n
⇒A=P(1+
100
10
)
3
⇒A=P(
10
11
)
3
=(
1000
1331
)P
Also, A−P= C.I.
⇒(
1000
1331
)P−P =1655
⇒(
1000
331
)P =1655
⇒P= Rs. 5000
Hope it helps you
Similar questions