Question

Find the sum on which the compound interest for 3 years at 10% per annum amounts to1,655.
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Answer 1

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

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Answer 2

Answer:

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