Question

A certain sum of money is invested at the rate of 5+ per annum compound interest compounded annually. if the the difference between the interest of first year and the interest of third year is 102.50. find the sum

Answer 1

Explanation:

the third year and ist year interest gap

is 102.50

the rate is 5%

the third year interest is 50,50,2.5

50 is 5%

100% is =1000

now it is ist year interest

5%=1000

100%=20000

Answer 2

Answer:

See the attachment. Hope it helps.