On what sum will the compound interest at 7% per annum for three years
compounded annually be * 3,101.40?
1
2
A
Answers
Answered by
45
Answer: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.
hope it helps u
plz mrk as brainliast answer
Step-by-step explanation:
Similar questions