A sum of ₹53,240 is accumulated in 3 years at a 10% compound interest rate (compounded annually). What is the original principal amount? - Quantitative Aptitude MCQ Competitive Exams 2026 | ExamTest.live | ExamTest.live

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A sum of ₹53,240 is accumulated in 3 years at a 10% compound interest rate (compounded annually). What is the original principal amount?

A $₹40,000$
B $₹30,000$
C $₹20,000$
D $₹60,000$

Solution & Step-by-step Explanation

Using the standard compound interest formula: A = P (1 + \frac{R}{100})^{n} Given values: A = 53240, R = 10%, n = 3 years . 53240 = P (1 + \frac{10}{100})^{3} 53240 = P (1.1)^{3} 53240 = 1.331 P P = \frac{53240}{1.331} = 40000 The original principal amount is ₹40,000.

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A sum of ₹53,240 is accumulated in 3 years at a 10% compound interest rate (compounded annually). What is the original principal amount?

A

₹40,000

B

₹30,000

C

₹20,000

D

₹60,000

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Compound Interest

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