on what sum will the compound interest at 7 1/2 % per annum for three year compounded annually be ₹3101.40
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Principal amount (p) = ?
rate of interest = i = 7 1/2 % = 7.5%
time = n = 3years
Compound interest = CI = 3101.40
compounded Interest = P((1+i)^n - 1)
3101.40=P((1 + 7.5/100)^3 -1)
3101.40= P9(1 + 0.075)^3 -1)
3101.40= P()1.075)^3 -1)
3101.40=P(1.242296875-1)
3101.40/0.242296875 = P
12800 = P = Principal Amount
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