Question

What sum will amount to Rs. 15916.59 in 3 years at compound interest, the interest for 1st year, 2nd year and 3rd year being 3%,2% and 1% respectively

Answer 1

Answer: 15000

Step-by-step explanation:

Amount = p(1+1/100)(1+2/100)(1+3/100)

15916.59= p(1+1/100)(1+2/100)(1+3/100)

P= 15916.59÷ (1.01x1.02x1.03)= 15000