If the interest is payable annually than the principal on which the compound interest for 3 years at 10% P.a is Rs 33/- is given by:
Options:
A . Rs 900
B . Rs 1000
C . Rs 1050
D . Rs 1100
Answer: Option B
Let the principal be Rs x. Then X × (1 + 10/100)3 “ x = 331 => (x × 11/10 × 11/10 × 11/10 - x) = 331 => ((1331x-1000x)/1000) = 331 => 331x = 331000 => X = 1000 Hence the principal is Rs 1000
Submit Comment/FeedBack