sum of rupees 20000 is lent of CI for 3 years if the rate of interest for 3 successive 5% 6% and 8% find the amount received back at the end of 3 years
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Let the sum be Rs x.
We know that:
CI = A – P
= P(1+R100)n – P
= P[(1+R100)n−1]
164 = x[(1+5100)2−1]
164 = x[(1.05)2−1]
x = 1640.1025
x = 1600
Thus, the required sum is Rs 1600.
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