Question

What amount will sum up to Rs. $6,655$ at $10$% p.a. in C.I. in $3$ years?

• A. $4000$
• B. $6000$
• C. $5000$
• D. $7000$

Answer 1

The correct option is C $5000$

$\Rightarrow$ Here, $A=Rs.6655R=10\%$ and $T=3years$

$\Rightarrow$ $A=P(1+\frac{R}{100}{)}^T$

$\Rightarrow$ $6655=P\times (1+\frac{10}{100}{)}^3$

$\Rightarrow$ $6655=P\times (\frac{11}{10}{)}^3$

$\therefore$ $P=\frac{6655\times 1000}{1331}=Rs.5000$