Question

9. On what sum will the compound interest at 7-% per annum for three years
compounded annually be 3,101.40?


pls solve this question by using formula.​

Answer 1

Answer:

p(1+r/loo)n-p=3101.40

p(1+7/100)3-p=3101.40

p(107/100)3-p=3101.40

p(I.07) 3-1 = 3101.40

P(1.225-1) =3101.40

p =3101.40/0.225=13780

Sum=Rs13780