Question

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

• A. $4,000$
• B. $5,000$
• C. $6,000$
• D. $5,500$

Answer 1

The correct option is B $5,000$

$\Rightarrow$ We have, $A=Rs.6,655,R=10\%$ and $T=3years$

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

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

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

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