Question

A certain sum of money yields rs.1261 as compound interest for 3 years at 5% per annum. The sum is select one: a. Rs. 7500 b. Rs. 8000 c. Rs. 8400 d. Rs. 9000

Answer 1

Answer:

8000

Step-by-step explanation:

rate = 5+5+ (5×5)/100= 10.25%

now 10.25+5+(10.25×5)/100

= 15.7625%

now 15.7625% = 1261

then 100% = 8000