Question

On a certain sum of money, invested at the rate of 10% per annum compounded annually , the interest for the first year plus the interest for the third year is Rs 2652. Find the sum

Answer 1

let assume investment amount be 100 , first year interest =100*10%=10, second year (100+10)*10%=11, third year (100+10+11)=121*10%=12.1 hence 10+12.1=2652 , first year interest= 2652/(10+12.1)*10=1200,cost of investment(sum)=1200/10% (or) 0.1=12000

Answer 2

here is ur answer mate