The amount (in Rs) received at 10% per annum compound interest after 3 yrs is Rs. 119790. What was the principal?
1). 90000
2). 100000
3). 80000
4). 75000
Let principal be p
From the problem statement
⇒ 119790 = p(1 + 0.1)3
⇒ p = 119790/1.331
⇒ p = 90000
∴ Principal is Rs 90000.