Question

A sum of money invested at 5% per annum amounts to 3 896 in 23 years. What will it
amount to in 3 years 9 months at the same rate of interest?​

Answer 1

12,958

SI=

100

P×r×t

12122=

100

P×8×2

12122=

100

P×116

P=Rs.10,450.

Now, for t=2

3

2

,r=9%

SI=

100

P×r×t

SI=

100

10450×9×(8/3)

=2058

Amount P+SI=10450+2058=Rs.12,958