1. A sum of money amounts to Rs. 6655 at the rate of 10% compounded annuallly for 3 years. The sum of money is
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By: anil on 05 May 2019 01.49 am
Let the sum of money = $$Rs. 1000x$$ Rate of interest under compound interest = 10% and time = 3 years Amount = $$P(1+frac{R}{100})^T=6655$$ => $$1000x(1+frac{10}{100})^3=6655$$ => $$1000x(frac{11}{10})^3=6655$$ => $$1000x imes frac{1331}{1000}=6655$$ => $$1331x=6655$$ => $$x=frac{6655}{1331}=5$$ $$ herefore$$ Sum = $$1000 imes 5=Rs. 5000$$ => Ans - (A)
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