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