Question

if a sum of money is increased by 1/5 of itself every year and amounts to rs 8546 in 5 yrs find sum?​

Answer 1

Answer:

Step-by-step explanation:

Let’s use the Exponential growth function for this:

y = a(1 + b)^x

y = Rs 8546

b = 1/5 of a, or 20%

x = 5 years

a = the initial amount = ?

8546 = a*((1 + .20)^ 5)

8546 = a*(1.20^5)

a = 8546 / 2.48832

a = Rs 3434.45 - The original sum five years ago.