Question

what sum of money will amount to rs 93170 in 3 years at 10% pa compounded annually
Formula P = Amount /[1+r/100]^n
Sum means principal ​

Answer 1

Step-by-step explanation:

Amount = p( 1+r/100)×n

Given,

Amount= 93170

Time = 3yrs

Rate= 10%

Principle = ????

So Amount = p( 1+r/100)×n

93170 = p( 1+10/100)×3

93170 = p( 110/100)×3

93170 = p( 110/100×110/100×110/100)

93170 = p( 1331/1000)

p(1331/100) = 93170

So, p= 93170×100/1331

P= 70×1000= So principal= 70000 Ans