Question

What sum will amount to ₹6555 after 3 years at 10% per annum, compounded annually.​

Answer 1

Given : Amount = Rs . 6555 , Rate of Interest = 10 % & Time = 3 yrs .

Need To Find : The Principal.

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⠀⠀⠀⠀Formula for Finding Amount is given by :

$\dag\:\:\boxed{ \sf{ Amount = \bigg[ P \bigg( 1 + \dfrac {R}{100} \bigg) ^T \bigg] }}$

Where,

• P is the Principal , R is the Rate of Interest & T is the Time & given Amount is Rs.6555 .

⠀⠀⠀⠀⠀⠀$\underline {\bf{\star\:Now \: By \: Substituting \: the \: Given \: Values \::}}$

$\qquad \:\::\implies \sf{ 6555 = \bigg[ P \bigg( 1 + \dfrac {10}{100} \bigg) ^3 \bigg] }$

$\qquad \:\::\implies \sf{ 6555 = \bigg[ P \bigg( 1 + \dfrac {1\cancel{0}}{10\cancel{0}} \bigg) ^3 \bigg] }$

$\qquad \:\::\implies \sf{ 6555 = \bigg[ P \bigg( 1 + \dfrac {1}{10} \bigg) ^3 \bigg] }$

$\qquad \:\::\implies \sf{ 6555 = \bigg[ P \bigg( \dfrac {11}{10} \bigg) ^3 \bigg] }$

$\qquad \:\::\implies \sf{ 6555 = \bigg[ P \bigg( \dfrac {1331}{1000} \bigg) \bigg] }$

$\qquad \:\::\implies \sf{ \bigg( \dfrac {10000\times 6555}{1331} \bigg) = P }$

$\qquad \:\::\implies \sf{ P = Rs. 49248.6 }$

Therefore,

• Hence , Rs. 49248.6 will amount to Rs. 6555 in 3 years at a compound interest at the rate are 10% per annum .

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