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pl help

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ramzan
 
Reply Wed 20 Apr, 2016 03:17 am
before three years, sajid invested some amount in a bank and now he receives Rs 14160. what was the origional ammount which he invested . if rate of interest was 6%.
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Type: Question • Score: 0 • Views: 670 • Replies: 1
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engineer
 
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Reply Wed 20 Apr, 2016 06:57 am
@ramzan,
If the original amount was X, the amount after three years of interest would be

AMT = X (1 + I)^3
14160 = X (1.06)^3
14160 = X * 1.1910
X = 11,889
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