Problem Statement
The compound interest accrued on an amount at the end of 3 years at the rate of 20% per annum is Rs.5824. What is the amount?
Explanation
CI = A[(1+r)^3 − 1] = 5824. (1.2)^3 = 1.728 → A(0.728)=5824 → A=8000.
Practice Sets
This question appears in the following practice sets: