Question

A certain amount of money is invested at the rate of 10% per annum compound interest, the interest compounded annually. if the difference between the interests of third year and first year is RS 1,105, find the sum invested.​

Answer 1

Answer:

4289

Step-by-step explanation:

S=p(1+i)*n-p(1+I)^n

1105=p(1+.11)^3-p(1+I)^n

1105=1.367p-1.11p

1105=.2576p

1105/.2576=p

4289=p

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