1.

What sum of money will amount to ₹ 3704.40 in 3 years at 5 % compound interest?

Answer»


Solution !

A = P ( 1 + r/100)N => ₹ 3704.40 = P( 1 + 5/100)³

₹ 370440/100 = P × 21/20 × 21/20 × 21/20

=> P = ₹ 37044/10 × 20/21 × 20/21 × 20/21

= ₹ 3200.


Discussion

No Comment Found

Related InterviewSolutions