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:

Let, the sum =P.

Given time (n)=3 years.

Rate of interest (r)=10%.

C.I. = Rs. 1655

Since, Amount (A)=P(1+

100

r

)

n

⇒A=P(1+

100

10

)

3

⇒A=P(

10

11

)

3

=(

1000

1331

)P

Also, A−P= C.I.

⇒(

1000

1331

)P−P =1655

⇒(

1000

331

)P =1655

⇒P= Rs. 5000