A certain sum of money is invested at the rate of 10 per cent annum compound interest.the interest compounded annually . If the diff between the interest of third year and first year is 1105 find the sum
Answers
Answered by
2
Answer:
Step-by-step explanation:
Ci
Si for 1st year
Let p be x
Si=p*r*t/100
=x*10*1/100
=x/10
A=x/10+x
=11x/10
Si for 2nd year
Si=p*r*t/100
=11x/10*10*1/100
=11x/100
A=11x/100+11x/10
=121x/100
Si for 3rd year
Si=p*r*t/100
=121x/100*10*1/100
=121x/1000
Diff.=
121x/1000-x/10
=21x/1000
21x/1000=1105
21x=1105*1000
x=1105000/21
=52619.1approx.
P=52619.1
Similar questions