find the principal amount for the rate of interest 10% p.a ,time 3 years and compounded interest earned is rs993.​

Question

find the principal amount for the rate of interest 10% p.a ,time 3 years and compounded interest earned is rs993.​

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Kaylee 3 days 2021-10-10T07:00:17+00:00 2 Answers 0 views 0

Answers ( )

    0
    2021-10-10T07:01:20+00:00

    AnswRate of interest, r = 10%  =  100

    =0.1

    Time period, t⇒3years.

    number of times compounded yearly, n = 1.

    compounded interest = Rs 993.

    ∴ Amount A = principal + compound interest

    = P + 993.

    we know, A =P(1+  n
    r)  nt

    P+993=P(1+  1
    0.1  ) 3

     P+993=P(1.1)  

    3
    P+993=1.331P.

    ⇒993=1.331P−P

    ⇒0.33P=993.

    ⇒P=  0.331
    993

    ​  

     

    ⇒P=Rs3000

    0
    2021-10-10T07:01:48+00:00

    Answer:

    3000

    Step-by-step explanation:

    p[( 1+ 10/100)^3 – 1] = 993 => p = 3000

    Or

    33.1% = 993 => 1% = 30

    100% = 100 × 30 = 3000 (Principle A)

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