On what sum will the compound interest at 7.5 % per annum for three years compounded annually be Rs. 3101.40?
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Answered by
15
Let sum = P
So P(1 +7.5/100)^3 = 3101.40
=> P*(43/40)^3 = 3101.40
=> P= 3101.40*64000/43^3 = 2496.50
So P(1 +7.5/100)^3 = 3101.40
=> P*(43/40)^3 = 3101.40
=> P= 3101.40*64000/43^3 = 2496.50
Answered by
17
Hope it will help......
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