Ashifur August 8, 2023 - 14:25
Problem: An amount of money was deposited in a bank account and compounded annually at 10% for three years to Tk. 66,550. What was the original amount deposited?

View all: NATIONAL BANK | OFFICER | RECRUITMENT QUESTION(MATH) SOLVE | 1997

Correct Answer: TK 50,000

Explanation:

Here, n = 3 , c = 66550 and r = 10% = $\frac{10}{100}$

P = ?

We Know, c = p $(1+\frac{10}{100})^{3}$

=> 66550 = p$(\frac{110}{100})^{3}$

=> p = $\frac{66550\cdot10\cdot10\cdot10}{11\cdot11\cdot11}$ = 50,000

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