Question

Roshanara deposited a certain amount with leasing company at the rate of interest of 20% compounded annually at the end of 380 received back 21600 find the Amount deposited

Answer 1

Question:

Roshanara deposited a certain amount with leasing company at the rate of interest of 20% compounded annually. At the end of 3 years, he received back ₹ 21600. Find the amount deposited.

Solution:

Amount at the end = ₹ 21600

Interest = 20% pa

Time = 3 years

Define P:

Let the amount deposited be P

Solve P:

21600 = P(1 + 0.2)³

21600 = P(1.2)³

21600 = 1.728P

P = 21600 ÷ 1.728

P =  ₹ 12500

Answer: The amount deposited is  ₹ 12500

Answer 2

Amount at the end = ₹ 21600

Interest = 20% pa

total Time = 3 years

Define p

Let the amount deposited be q

Solve p

21600 = P(1 + 0.2)³

21600 = P(1.2)³

21600 = 1.728P

p = 21600 / 1.728

p =   12500

total deposited  amount deposited is  12500