Question

if a sum of money increased by 1/5 of itself every year and in 5 years amounts to Rs.8546,find the sum

Answer 1

sum of increased = 1/5
amount increase in every year
and, last 5 year amount. = 8546
then, we find amount in 1 year
= 8546÷5
= 1709.2
amount of 1 year is 1709.2
so, find the sum increase in 1 year
= 1709.2÷1/5
= 341.84