What sum of money will amount to rupees 6655 at the rate of 10% per annum compounded annually in 3 years?

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1. A sum of money amounts to Rs. 6655 at the rate of 10% compounded annually for 3 years. The sum of money is

1. 1. Rs. 5000
   2. Rs. 5500
   3. Rs. 6000
   4. Rs. 6100

Let the principal be Rs. P.Here , Amount ( A ) = Rs. 6655 , P = ? , Rate = 10% , Time = 3 years Using the given formula , we have

A = P		1 +	R		T
100

⇒ 6655 = P		1 +	10		3
100

⇒ 6655 = P		1 +	1		3
10

⇒ 6655 = P		11		3
10

⇒  P =	6655 × 10 × 10 × 10	= Rs. 5000
11 × 11 × 11

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