EXAMPLE 19: Find the sum of money which
amounts to Rs.13,310 in 3 years at the rate of 10%
per annum compounded annually.
Answers
Answered by
2
Answer:
4405.61
Step-by-step explanation:
Real Money = Rs.13,310
Duration= 3years
rate =10%
compounded money= real money * [1+rate/100]^year-real money
= 13310*[1+10/100]^3-13310
=4405.61
neevthakkar:
wrong answer
so what's the answer
Rs. 10,000
sorry
I use wrong formula
IT'S OK
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