Question

What sum of money will amount to ₹9261 in 3 years at 5 % per annum compound interest?
​

Answer 1

Answer:

Step-by-step explanation:

A=Rs.9261;n=3 years and r=5%

∵A=P(1+

100

r

​

)

n

∴9261=P(1+

100

5

​

)

3

 

⇒P=9261×(

21

20

​

)

3

⇒9261×

21

20

​

×

21

20

​

×

21

20

​

=Rs.8000

∴ Required Sum =Rs.8000

Answer 2

Answer:

A=Rs.9261;n=3 years and r=5%

$A = p(1 + \frac{r}{100} ) {}^{n}$

$9261 = p(1 + \frac{5}{100} ) {}^{3}$

$p = 9261 \times ( \frac{20}{21} ) {}^{3}$

$9261 \times \frac{20}{21} \times \frac{20}{21} \times \frac{20}{21}$

$= Rs.8000$

∴ Required Sum =Rs.8000

Hope it's helps you.

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