Question 98

The amount (in Rs) received at 10% per annum compound interest after 3 yrs is Rs 1,19,790. What was the principal?

Solution

$$P(1+\frac{R}{100})^{3}$$=119790

$$P(1+\frac{10}{100})^{3}$$=119790

$$P(\frac{11}{10})^{3}$$=119790

P=119790*1000/1331
P=Rs 90000

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