Question
A certain sum of money amounts to Rs 1331 in 3 years at
10 percent compounded annually. Find the sum invested.Solution
Given – r =10%, t=3year, A =1331 Let the invested sum =100 The interest of the first year at the rate of 10%=100×10/100=10 1st year 10 2nd year 10 1 3rd year 10 1 1 0.1 Total amount =10+10+10+1+1+1+0.1=33.1 ATQ- 33.1=1331 1=10 And now 100=10×100=1000Rs.
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