Question

Find the present worth of Rs. 9261 due 3 years hence at 5% p.a
compound yearly​

Answer 1

A = P(1+r/100) power t

9261 = P (1+5/100)³

9261 = P (21/20)³

P = 9261×20/21×20/21×20/21

P = 8000

Rs. 8000 will amount to Rs. 9261 in 3 years at 5% per annum compound interest

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