Question

find the sum of invested 10% compounded annually, on which the interest for the first year plus the interest for the third year amount to $1768

Answer 1

Let the sum (principal) = $100
C.I. of 1st year = \[\frac{ 100x0x1 }{ 100 } = $10\]
And, amount of 1st year = $100 + $10 = $110
→ The principal for 2nd year = $110
C.I. of 2nd year = \[\frac{ 100x10x1 }{ 100 } = $11\]
And, amount of 2nd year = $ (110 + 11) = $121
The principal for 3rd year = $121
C.I. of 3rd year = \[\frac{ $121x10x1 }{ 100 } = $12.10\]
Now, when sum of two interests = $22.10, principal (sum) = $100
And, when sum of two interests = $,768, sum = \[\frac{ $100 }{ 22.10 } x 1,768\]
= $8000

Answer 2

thanks

Answer 3

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