Question

A sum of money invested at compound
interest amounts to 9,248 in 2 years
and to 9,826 in 3 years. The sum of money is
​

Answer 1

Answer:

interest = 9826-9248 = 578

Rate = 578*100/9248 = 6.25%

Now,

9248 = P (1+6.25/100)²

9248 = P(17/16)²

P = 9248*16*16/17*17 = 8192 (Ans.)

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