Question

find the principle amount for the rate of interest 10% p.a. time 3 years and compound interest earned is 993rs​

Answer 1

Answer: Rs.3000

Step-by-step explanation:

Rate of interest, r = 10%  =  

100

10

​  

=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=Rs3,000