Question

2.
Find the sum which when invested at 20%
will amount to Rs 1,600 in three years, when
the interest is compounded annually.​

Answer 1

Answer:

₹925.92

Step-by-step explanation:

Let the sum be P.

Amount (A) = ₹1600

Rate (R) = 20%

Time (n) = 3 years

A = P (1 + R/100)ⁿ

=> 1600 = P (1 + 20/100)³

=> 1600 = P (6/5)³

=> 1600 × 125/216 = P

=> P = ₹925.92

Answer 2

Answer:

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