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The amount received at 10% per annum compound interest after 3 yrs is Rs. 10,648. What was the principal (in Rs.)?
- A8000
- B9000
- C8500
- D7500
Answer not set
Discussion 1
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CCommunity
We have,
Amount = Principal × (1 + Rate/100)time
⇒ 10648 = Principal × (1 + 10/100)3
⇒ 10648 = 1.331 × Principal
⇒ Principal = 10648/1.331 = 8000
Amount = Principal × (1 + Rate/100)time
⇒ 10648 = Principal × (1 + 10/100)3
⇒ 10648 = 1.331 × Principal
⇒ Principal = 10648/1.331 = 8000