Question

on what sum will the compound interest at 7×1/2% per annum for 3 years compounded annually be rupees 3101.40

Answer 1

Let the sum be Rs x
A=P(1+r/100)^t
Rs3101.40=P(1+15/200)^3
Rs3101.40=P((1+3/40)^3
Rs3101.40=P(43/40)^3
Rs3101.40=P(79507/6400)
Rs3101.40×6400/79507=P
Rs198489600/79507=P
Rs2496.5=P

Answer 2

Answer:

Let the sum be Rs x

A=P(1+r/100)^t

Rs3101.40=P(1+15/200)^3

Rs3101.40=P((1+3/40)^3

Rs3101.40=P(43/40)^3

Rs3101.40=P(79507/6400)

Rs3101.40×6400/79507=P

Rs198489600/79507=P

Rs2496.5=P

Step-by-step explanation: