The difference between the compound
interest and the simple interest on a lot
sum of money at 16% per annum
compounded annually for 27 months
₹615 Find the sum
Answers
Answered by
3
Answer:
Rs15599.6
Step-by-step explanation:
t =2 1/4yrs,A=(1+r/100)^2×(1+r×1/4/100)
615 = p[{(1 + 16/100)^2×( 1+ 16×1/400)
-1} - 16×9/400)]
615 = p[(1.16 × 1.16 × 1.04 - 1) - 0.36)]
p = Rs 15599.6
Answer Sum = Rs 15599.6
Similar questions