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A certain sum of money lent at compound interest become 7396 in two years and 7950.70 in 3years |
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Answer» Answer: Step-by-step explanation: AMOUNT in 3years = Rs 7950.70 Amount in 2 years= Rs 7396.00 Interest for 3rd year =Rs 554.70 Principal for 3rd year=Rs 7396 TIME = 1year Rate = (Interest *100)/ Principal*Time = 554.70*100 /7396* 1 = 55470/ 7396 = 7.5% Let sum of money = X Amount = Rs 7396 Time = 2 years then Amount = Principal(1+R/100)^T 7396 = x (1+7.5/100)^2 x =Rs 7396 /(43/40)^2 =Rs 7396 *40*40 /43*43 =Rs 6400 |
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