Question

A certain sum amounts to Rs.12167 in 3 yrs.at 15 percent per annum compounded annually. find the sum.

Answer 1

use formula ,
A=p (1+r/100)^n

12167 = p(1+15/100)^3

12167 = p (1.15)^3 =p (1.52)

p= 12167/(1.52) = 8004

hence sum is 8004 Rs