Home

Solve any problem
(step by step solutions)
Input table (Matrix, Statistics)
Mode :
SolutionHelp
Solution
What sum of money becomes Rs 9261 in 3 years at 5 % per annum, compounded annually ?

Solution:
Your problem `->` What sum of money becomes Rs 9261 in 3 years at 5 % per annum, compounded annually ?


Here `A = "Rs." 9261, R = 5%, N = 3` years

`A = P (1 + R/100)^N`

`9261 = P ( 1 + 5 / 100 ) ^ 3`

`9261 = P ( 105 / 100 ) ^ 3`

`9261 * ( 100 / 105 ) ^ 3 = P`

`P = 8000`

`:.` The sum is `8000`.






Solution provided by AtoZmath.com
Any wrong solution, solution improvement, feedback then Submit Here
Want to know about AtoZmath.com and me
  
 

Share with your friends
 
Copyright © 2018. All rights reserved. Terms, Privacy