Question

- What amount should be invested
at 4% for 3 years to get 19,510 as compound
interest?
​

Answer 1

Question :-

What amount should be invested

at 4% for 3 years to get 19,510 as compound interest?

Answer :-

→Therefore invested amount should be ₹17344.319

To Find :-

→ Amount

Formula used :-

$\rightarrow \sf{compound \: interest = P { \bigg(1 + \frac{R}{100} \bigg)}^{ T } }$

Explanation :-

Let amount be "x",

Given that ,

• Compound interest = ₹ 19,510
• Rate ( R) = 4 %
• Time ( T) = 3 years
• Amount (P) = x = ?

Substitute these values in the given formula,

$\rightarrow \sf{19510 = x { \bigg(1 + \frac{4}{100} \bigg) }^{3} } \\ \\ \rightarrow \sf{ 19510 = x { \bigg( \frac{26}{25} \bigg)}^{2} } \\ \\ \rightarrow \sf{ x \: = \frac{19510 \times 25 \times 25 \times 25}{26 \times 26 \times 26} } \\ \\ \rightarrow \: \sf{ x = \frac{19510 \times 15625}{17576} } \\ \\ \rightarrow \boxed{ \sf{x \: = 17344.319}}$

Therefore invested amount should be ₹17344.319

____________________