Question

A sum when reckoned at 15/2 per annum amounts to 3920 in three years find the sum​

Answer 1

Answer: The rate of Interest is 7.5% therefore in 3 years the interest earned would be 2.5*3 = 22.5%. This is the interest portion and there's a principal (sum), which is originally 100%, thus the amount becomes 122.5%. Now this 122.5% is equal to 3920, therefore, 100% is equal to (3920/122.5)*100.

Step-by-step explanation: