Question

find the sum on which the compound interest for 3 years at 10% per annum at rupees 1655
please answer with steps ​

Answer 1

Answer:

Let the sum of money required be ₹P

r=10% p.a

T=3 yrs

n=3

C.I=₹1655

Amount =₹(P+1655)

Amount =P(1+r/100)^n

P+1655=P(1+10/100)^3

P+1655=P×(110/100)^3

P+1655=P×(1331/1000)

P+1655=1331/1000P

1331/1000P-P=1655

331/1000P=1655

therefore,

P=(1655×1000)/331

P=₹5000

Therefore,the sum of money =₹5000