Question

b) What sum of money will amount to ₹9261 in 3years at 5% per annum compound interest?

Answer 1

Answer:

Given R = 5% per annum ,n = 3 years, Amount = 9261 rupees.

We know that A = P(1 + r/100)^n

                       9261 = P(1 + 5/100)^3

                        9261 = P(21/20)^3

                       P = 9261 * 20/21 * 20/21 * 20/21

                          = 9261 * 20 * 20 * 20/21 * 21 * 21

                          = 9261 * 8000/9261

                          = 8000.

Therefore the sum of money = 8000 rupees.

Hope it helps!!!

Step-by-step explanation:

Answer 2

Answer:

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