Question

what sum or money will amount to ₹9261 in 3 years at 5% per annum compound interest

Answer 1

8000 is the answer
9261 = 21^3
So definitely 20^3 =8000 is answer because 5=1/20 Means 20+1/20=21/20

Answer 2

Here is your answer:

Using formula , A=P (1+R/100)^n

Given, A= Rs.9261
n= 3yrs
R = 5%

Now substituting the values,
Let sum of money be P

》9261=P(1+5/100)^3

Then simplifying,
》9261=P (1+1/20)^3

》9261=P (21/20)^3

》9261 × 20 × 20 × 20/ 21 × 21 × 21= P

》Simplifying the above line

》20 × 20 × 20 = P.

Therefore P = Rs.8000 ( Ans)