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.
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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
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