Question

Find the money which when invested for 1.5 years and compounded annually at the rate of 8% per annum, amounts to rupees 175.37.

Answer 1

Answer:

ANSWER

T=1.5 ,R=8%,Amount=175.37

we know that,

A=P(1+100R)T

⟹175.37=P(1+1008)1.5

P=1.12175.37=156.13