Find the sum which is gives on 5% p.a.compound intrest for 3 years amount to Rs.18522.
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A = P(1 + r)ⁿ
Find the initial amount:
18522 = P(1 + 0.05)³
18522 = 1.05³P
P = 18522 ÷ 1.05³
P = Rs 16,000
Answer: The sum is Rs 16000
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