Question

what sum of money will amount to ₹ 3704.40 in 3 years at 5 % compound interest?

Answer 1

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Solution !

A = P ( 1 + r/100)n => ₹ 3704.40 = P( 1 + 5/100)³

₹ 370440/100 = P × 21/20 × 21/20 × 21/20

=> P = ₹ 37044/10 × 20/21 × 20/21 × 20/21

= ₹ 3200.

Answer 2

heya !!


please refer this attachment


Thanks!!