Question

what sum of money will to 4630.50 in 3years at 5%per annum compound interest

Answer 1

Given, Amount=₹4630.50
Time=3years
Rate of interest =5%
Let the principal be ₹P
According to the question,
Amount=p(1+r/100)^t
=P(1+5/100)^3=4630.50
P(1+1/20)^3=4630.50
P(21/20)^3 =4630.5
P=4630.50×20×20/21×21
P=1852200/441=₹4200
Therefore sum =₹4200
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Answer 2

$Given,\\Principal(P) = ?\\Rate(R) = 5\%\\Time(t) = 3 \ years\\\\We \ know,\\A = P(1+\frac{r}{100})^n\\\\4030.50 = P(1+\frac{5}{100})^3\\\\\frac{4030.50\times20\times20}{21\times21} = P\\\\4200 = P\\\\Hence,\boxed{\boxed{Sum = Rs.4200}}$