CBSE Class 12-commerce Answered
If we want ?8,640 three years from now and the compounded interest rate is 20% p.a
how much should we invest today? (assuming interest is compounded yearly)
Asked by manojlodhval | 09 Sep, 2022, 23:33: PM
![straight A space equals space straight P open parentheses 1 plus straight R over 100 close parentheses to the power of straight n
8640 equals straight P open parentheses 1 plus 20 over 100 close parentheses cubed
straight P space equals space 5000
Need space to space invest space Rs.5000](https://images.topperlearning.com/topper/tinymce/cache/5870772baffb96bb640040b265df806a.png)
Answered by Arun | 12 Sep, 2022, 11:25: AM
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