A sum becomes 64827 in 3 years at 5% per annum compound interst.find the sum
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Answer:
A = P(1+r/100)^n
A = final amount = 64827
P = initial principal balance or sum
r = interest rate = 5
n = number of time periods elapsed = 3
ATQ,
64827=P*(1+5/100)^3
=>64827=P*1.05^3
=>64827=P*1.05*1.05*1.05
=>64827/1.157625=P
=>56000=P
∴ The sum will be 56000.
(hope this helps, please mark as Brainliest.)
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