Question

A sum of money amounts to rs.10240 in 2 years at 6 2/3 per annum, compounded annually. Find d sum.....

Answer 1

After a specified period, the interest rate must be carried out with per annum and thus it includes sum amounts within average time.

This must be carried down with 4% per annum and compared to interest on a certain sum at 16 of 2/3 to 3 years is Rs.1270.

It takes by certain sum of money and rather consider 2 years at 4%.