Question

Find the sum that amount to 13225 in 3 years at 15% per annum when compounded annually

Answer 1

Step-by-step explanation:

Please check again. Sorry if there are any mistakes.

Answer 2

8695.65 Rs becomes 13225 after 3 years when compounded annually.

let the sum = P.

using formula,

A = P(1 + r/100)³

⇒13225 = P(1 + 15/100)³

⇒13225 = P(115/100)³

⇒13225 = P(115)³/(100)³

⇒13225 = P(115 × 115 × 115)/(100)³

⇒529 × 25 = P × 25 × 5 × (529 × 23) /(100)³

⇒1 = P × 5 × 23/100³

⇒P = 100 × 100 × 100/(23 × 5)

= 20 × 10000/23

= 8,695.65217 ≈ 8695.65

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