Question

at what sum the compound interest will become rs 1261 at 10 % p.a. after 3 years​

Answer 1

Answer:

The sum amount P = 948.12 Rs

Step-by-step explanation:

Given : Compounded amount = A = 1261 Rs

            Interest rate R = 10%

            Period N = 3 years

            Principal P = ?

Solution : A = P x  $(1 + R/100)^{N}$

              1261 = P x (1 + 10/100)³

              1261 = P x (1.1)³

                 P = 1261/1.33

                    = 948.12 Rs