Question
The certain sum amounts to Rs 12644.5 in 2(1/2) years at
12% p.a., interest compounded 10 months. The sum (in Rs) is:Solution
Time = (5/2) × 12 = 30 month, So, time = 30/10 = 3 Rate = 12% = (12/12) ×10 = 10% A =P(1+R/100) n = P (1+10/100)3 12644.5 = P (11/10)3 P = (12644.5 ×1000) /1331 P = 9.5 ×1000 = 9500 Â
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