compound interest for the same sum for the same period at the 5. What sum of money will amount to 44994.56 at 4% p.a. compounded annually in 3 years
Answers
Answered by
0
Answer:
Step-by-step explanation:
A=Rs.9261;n=3 years and r=5%
∵A=P(1+
100
r
)
n
∴9261=P(1+
100
5
)
3
⇒P=9261×(
21
20
)
3
⇒9261×
21
20
×
21
20
X
21
20
=Rs.8000
∴ Required Sum =Rs.8000
Similar questions