Question

on what sum will the compound interest at 7 1/2%per annum for three years compounded annually be ₹3101.40​

Answer 1

Answer:
12800
Step-by-step explanation:
Let the Sum be P.
Given, R = 7 1/2% = (15/2)%, Time = 3 years, C.I = 3101.40.
Calculation of Sum:
CI = P(1 + r/100)ⁿ - P
⇒ 3101.40 = P[(1 + r/100)ⁿ - 1]
⇒ 3101.40 = P[(1 + 15/200)³ - 1]
⇒ 3101.40 = P[(215/200)³ - 1]
⇒ 3101.40 = P(0.2423)
⇒ P = ~12800
Therefore, Sum is 12800.



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Answer 2

Answer:

Rate of interest = 7\frac{1}{2}\%=\frac{15}{200}7

2

1

%=

200

15

Time = 3 years

Compound interest = 3101.40

To Find :

What is sum?

Solution:

Let the sum be x

We are given that compound interest is 3101.40

Amount = Principal+Interest

Amount = x+3101.40

Formula:

A=P(1+r)^tA=P(1+r)

t

A = Amount

P = Principal

r = rate of interest in decimals

t = time

Substitute the values in the formula:

\begin{gathered}x+3101.40=x(1+\frac{15}{200})^3\\x+3101.40=1.2422x\\3101.40=0.2422x\\x=12800\end{gathered}

x+3101.40=x(1+

200

15

)

3

x+3101.40=1.2422x

3101.40=0.2422x

x=12800