Find the sum on which the compound interest
for 3 years at 10% per annum amounts to
* 1,655.
Answers
Answered by
4
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.
Answered by
4
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
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