Question

the sum which amounts to 2662 at 10%p.a in 3 years compounded yearly is _
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Answer 1

Step-by-step explanation:

Applying the formula for amount:

$a = p \times (1 + \frac{r}{100})^{n} \\ 2662 = p \times (1 + \frac{10}{100}) ^{3 }$

$2662 = p \times ( \frac{11}{10} )^{3} \\ p = 2662 \times \frac{1000}{1331} \\ p = 2000$