Question

find the sum on which the compound interest for 3 years at 10% per annum amounts to rupees 1655
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Answer 1

Answer:

the principal or the sum is ₹ 5000

Step-by-step explanation:

let amount be ₹ x

time = 3yrs

total interest at the end of 3 yrs is 1655

rate= 10%

from the formulae   I = P*{1+(r/100)}ⁿ-P

1655 = P*{1+(10/100)}³ - P

1655 = P*(1+1/10)³ - P

1655= P*(11/10)³ - P

1655 = P * 1331/1000 - P

1655  = (P*1331 - 1000*P)/1000

1655*1000 = 331 *P

P = 1655000/331

P = ₹ 5000