Question
The amount in a bank account after 3 years is ₹1350
when the interest is compounded annually at a rate of 10%. What was the principal amount?Solution
Let the principal amount be P. The formula for compound interest is: Amount = P(1 + r/100)ᵗ , where r = 10%, t = 3 years, and the amount is ₹1350. Substitute into the formula: 1350 = P(1 + 10/100)³ 1350 = P(1.1)³ 1350 = P × 1.331 Now, solve for P: P = 1350 / 1.331 = ₹1014.3 (approximately ₹1014) Therefore, the principal amount is ₹1014. Correct option: a
What is the current public education expenditure in India as a percentage of GDP, according to the ASER 2024 report?
The 4th G20 Culture Working Group (CWG) Meeting aims to arrive at actionable outcomes while positioning culture at the heart of policy-making.Where is t...
Who is the current President of the Olympic Council of Asia (OCA) as of 2025?
Which company from Fiji received support under the ADB’s Frontier Seed program for the prawn industry?
The new Integrated BioControl Laboratory (BC Lab) is a state of art laboratory in NIPHM, have facilities for giving hands-on experience on production me...
From when is the RoDTEP scheme being restored for AA holders, EOUs, and SEZs?
The Aditya-L1 mission, India’s first dedicated mission to study the Sun, achieved its first science result by predicting a CME on which date?
Who made history as Mexico's first female president recently?
Confederate of Indian Industry (CII) has co-organized the Digital Health Summit 2023 with Union Ministry of Health & Family Welfare with the objective o...
The government is planning to sell a part of its holding in state-owned Indian Railway Finance Corp (IRFC) through an offer for sale (OFS) in the curren...
