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