Question

certain sum of money invested at the rate of 10% per annum compound interest the interest compounded annually if the difference between the interest of 3rd and 1st year 1105 find the sum invested ​

Answer 1

Step-by-step explanation:Interest rate of 1st year

= 10%

Interest rate of 2nd year =11%

Interest rate of 3rd year =12.1

Interest rate increased by 10% every year

Let the sum is

ATQ

P×12.1/100 -P×10/100 =1105

P(2.1/100 ) =1105

P= 110500/2.1

P=52619.04 rupees