Question

On what sum will the compound interest at7 1/2% for 3 yrs
compounded annually be 3.101407​

Answer 1

Answer:

RATE=15/2% TIME=3YEARS CI=3.101407

LET THE SUM BE X,

AMT=P(1+R/100)*N

AMT=X(1+15/200)*³

AMT=X(215/200)*³

AMT=X(43/40)*³

AMT=X(43*43*43/40*40*40)

AMT=79507X/64000

A/Q,

79507X – X=3.101407

SO,

79507X–64000X/64000=3.101407

15507X/64000=3.101407

15507X=3.101407*64000

15507X=198490.05

X=198490.05/15507

X=12.800029

ANS=THE SUM IS 12.800029