What sum of money will amount to Rs. $13, 310$ in three years at $10$ % per annum compounded yearly?

8, 000

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9, 000

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10, 000

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18, 000

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Solution

The correct option is C $10, 000$
$A = P (1 + \frac{r}{100})^{n}$
$⟹ 13310 = P (1 + \frac{10}{100})^{3}$
Solving for $P$ we get $P = 10, 000$
Hence sum $= R s .10, 000$ .

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Similar questions

What sum of money will amount to Rs. 27,783 in one and a half years at 10% per annum compounded half yearly ?

Calculate the amount and compound interest on

(a) $R s . 10, 800$ for $3$ years at $12 \frac{1}{2}$ % per annum compounded annually.

(b) $R s . 18, 000$ for $2 \frac{1}{2}$ years at $10$ % per annum compounded annually.

R s . 62, 500

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R s . 8, 000

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R s .10, 000

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