on a certain sum of money, invested at rate of 5%per Annum compounded annually the difference between the internet of the first year and third year is rupees 61.50. find the sum.
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on a certain sum of money, invested at rate of 5%per Annum compounded annually the difference between the internet of the first year and third year is rupees 61.50. find the sum.
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Answer:
12000
Step-by-step explanation:
First year=12000x5%=600
2nd year=12600x5%=630
3rd year=13230x5%=661.5
so 661.5-600=61.5