Question

3)What sum of money will amount to Rs9261 in 3 years at 5% per annum compound interest?​

Answer 1

Rs. 8053.04

Step-by-step explanation:

Given,

Amount(A)= 9261

Time( T) = 3 yrs

Rate(R) = 5%

Principal(P)= ?

We know that,

P = (A×100)/(100+T×R)

= (9261×100)/(100+3×5)

= 926100/115

= Rs.8053.04