Question 85
If the amount received at 10% per annum Compound interest after 3 yrs is Rs 19965, then what will have been the principal (in Rs) amount?
Solution
P$$(1+\frac{10}{100})^{3}$$ = 19965
P$$(1+\frac{1}{10})^{3}$$ = 19965
P$$(\frac{11}{10})^{3}$$ = 19965
P$$(\frac{1331}{1000})$$ = 19965
P = 15000
So the answer is option B.
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