Question

Find the sum on which the compound interest
for 3 years at 10% per annum amounts to
* 1,655.​

Answer 1

Step-by-step explanation:

Amount = Rs. 1655

Rate = 10%

Time = 3 years

A = P × (1 + R/100)^n

→ 1655 = P × (1 + 10/100)³

→ 1655 = P × (110/100)³

→ 1655 = P × (11/10)³

→ 1655 = P × 1331/1000

→ 1655000 = 1331P

→ P = 124.35 (approx)

The sum is Rs. 124.35.

Answer 2

Given:

C.I. = ₹1,655

n = 3 years

r = 10%

We know that:

A = P(1 + r/100)n

Solution:

A = P(1 + r/100)n

= P(1 + 10/100)3

= P(11/10)3

= 1331P/ 1000

So:

C.I. = A – P

1655 = 1331P/ 1000 – P

1655 = 331P/ 1000

P = (1655 x 1000)/ 331

= 5000

Therefore, the initial sum is ₹5,000 Ans