Mathematics
NULL
Medium
Question
If interest is payable annually, find the principal on which the CI for 3 years at 10% p.a. is Rs.331.
A
Rs 900
B
Rs 1000
✓ Official correct answer
C
Rs 1050
D
Rs 1100
Community credibility
Registered members can vote for the answer they believe is correct today and explain why. If the facts change after an election or news event, suggest a new option so others can vote it up.
A
Rs 900
No member explanations yet for this option.
B
Rs 1000
No member explanations yet for this option.
C
Rs 1050
No member explanations yet for this option.
D
Rs 1100
No member explanations yet for this option.
Explanation
CI factor for 3 years at 10% = (1.1)³ − 1 = 0.331. Principal = 331 / 0.331 = Rs.1000.