Question

A certain sum 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 1,105, find the sum invested.​

Answer 1

successive rate for 3 years of 10% = 33.1 %

ci of 3Rd = 3.1% (of P)

ci of 1st year = 10% (of P)

A/q,

(10%-3.1%) = 1105

6.9% -------------- 1105

100% -------------- 16014.5 (approx)