Question discussion

The compound interest on a sum of money for 3 years at 10% per annum, compounded annually, is ₹3,310. What is the sum?

Correct answer: A

Explanation

Over 3 years the interest is 1.1³ − 1 = 0.331 of the principal, so the principal is 3310 ÷ 0.331 = ₹10,000.

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