what sum of money will amounted to rupees 9261 in 3 years at 5% per annum compounded interest
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Heya friend,
______________________________
A = P(1+R/100)^n
9,261 = P(1+5/100)^3
=> 9,261 = P(100+5/100)^3
=> 9,261 = P(105/100)^3
=> 9,261 = P(21/20)^3
=> 9,261 = 9,261P/8,000
=> P = 9,261×8,000/9,261
=> P = ₹9,261
Hence, the sum is ₹8,000.
Thanks
With regards@
Tanisha
______________________________
A = P(1+R/100)^n
9,261 = P(1+5/100)^3
=> 9,261 = P(100+5/100)^3
=> 9,261 = P(105/100)^3
=> 9,261 = P(21/20)^3
=> 9,261 = 9,261P/8,000
=> P = 9,261×8,000/9,261
=> P = ₹9,261
Hence, the sum is ₹8,000.
Thanks
With regards@
Tanisha
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