sum if rate is 7.5% p.a amounts to 3920 in 3 years
pls with explanation
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Step-by-step explanation:
The rate of Interest is 7.5% therefore in 3 years the interest earned would be 2.5*3 = 22.5%. This is the interest portion and there's a principal (sum), which is originally 100%, thus the amount becomes 122.5%. Now this 122.5% is equal to 3920, therefore, 100% is equal to (3920/122.5)*100.
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