Nikhil invested a certain sum of money at the rate of 5% per annum, the interest being compounded annually. If the difference between the first year interest and third year interest is ₹51 25, what sum of money did Nikhil invest?
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Answer:
1000000
Step-by-step explanation:
lets assume principal as 8000
1 st year ci = 400
3 rd year ci = 441
now
41 units = 5125
8000 units = 5125*8000/41
= 1000000
Hope so you got it
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