What sum will amount to 3700 at 5% per annum in 4 years if interest is
compounded annually?
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1
Answer:
ANSWER
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
☺️☺️
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