If the interest is payable annually then the principal on which the compound interest for 3 years at 10% P.a is Rs. 331 is given by:__________?
Q1. If the interest is payable annually then the principal on which the compound interest for 3 years at 10% P.a is Rs. 331 is given by:__________?
Answer: Rs. 1000
Explanation: Using P×(1.10³−1) = 331: P×0.331 = 331, so P = Rs. 1000.