the difference of compound interests on a sum of money for 2 years and 3 years is rs 121 at the same rate of interest of 10% p.a. find the sum of money ?
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Answer:
Rs. 14.641
Step-by-step explanation:
Compound interest for 2 yrs=121(1+10/100)²
=121(11/10)²=121*11/10*11/10=Rs. 146.41
Compound interest for 3 yes= 121(1+10/100)³
=121(11/10)³=121*11/10*11/10*11/10=Rs. 161.051
Difference between compound interest for 3 and 2 yrs=Rs. (161.051-146.41)
=Rs. 14.641
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