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What Sum of Money Will Amount to Rs 9,447.84 in 3 Years at 8% P.A. Compound Interest? - Mathematics

Sum

What sum of money will amount to Rs 9,447.84 in 3 years at 8% p.a. compound interest?

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Solution

Here P = x; A= Rs 9, 447 .84; t = 3 years; r = 8 % p.a 

`therefore "A" = "P" (1 + "r"/100)^"n"`

`=>"Rs"  9447.84 = "x"(1 + 8/100)^3`

`=> "Rs"  9447.84 = "x" (108/100)^3 `

`=> "Rs"  9447.84 = "x" xx  27/25 xx 27/25 xx 27/25`

`=> "Rs"  9447.84 = "x" xx 19683/15625`

`=> "x" = "Rs"  (9447.84 xx 15625)/19683`

`=> "x" = "Rs"  7500`

The sum of money will be Rs 7,500. 

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APPEARS IN

Frank ICSE Class 10 Mathematics Part 2
Chapter 1 Compound Interest
Exercise 1.3 | Q 1 | Page 10
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