Question

a certain sum amounts to rupees 12167 in 3 years at 15% per annum compounded annually find the sum

Answer 1

Answer:

The sum deposited is $Rs$ $8000$.

Step-by-step explanation:

• Compound interest is the loan or deposit that accumulates on both the initial most important and the amassed interest from preceding intervals.
• Compound interest is the addition of interest to the main sum of a mortgage or deposit.
• Compounded interest ends in a huge increase in your investments through the years.

The formula for compound interest:

$A=P(1+\frac{R}{100} )^{T}$

where $A$ is the final amount

            $P$ is the deposited amount.

            $R$ is the interest rate.

            $T$ is the time in years.

Step 1:

Given that $A=$ $Rs$ $12167$

                  $T= 3$ years.

                  $R=15$%

So, we have to apply the above formula.

Step 2:

$12167=P(1+\frac{15}{100} )^{3}$

$12167=P(\frac{23}{20} )^{3}$

$P=\frac{12167*20*20*20}{23*23*23}$

$P=$ $Rs$ $8000$

So, the sum deposited is $Rs$ $8000$.