Question

find the principal amount for the rate of interest 10% p.a ,time 3 years and compounded interest earned is rs993.​

Answer 1

Answer:

3000

Step-by-step explanation:

p[( 1+ 10/100)^3 - 1] = 993 => p = 3000

Or

33.1% = 993 => 1% = 30

100% = 100 × 30 = 3000 (Principle A)

Answer 2

AnswRate of interest, r = 10%  =  100

=0.1

Time period, t⇒3years.

number of times compounded yearly, n = 1.

compounded interest = Rs 993.

∴ Amount A = principal + compound interest

= P + 993.

we know, A =P(1+  n r)  nt

P+993=P(1+  1 0.1  ) 3

 P+993=P(1.1)  

3 P+993=1.331P.

⇒993=1.331P−P

⇒0.33P=993.

⇒P=  0.331 993

​  

 

⇒P=Rs3000