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(e) Mr. Sanjay deposited 15,000 in the bank for his five-year old daughter as hewishes to give his daughter the amount of 21.000 on her thirteenth birthday.At what rate of interest should the money be invested? |
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Answer» Answer: Step-by-step explanation: P=15000 SI=21000-15000 =6000 T=(13-5)yrs =8yrs R=100×SI/P×T R=100×6000/15000×8 =600000/120000 =5%p.a P= 15,000T= (13-5) 8 yearsR = ?A = 21,000SI = A - P = 21,000 - 15,000 = 6,000R =SI×100/P×T =6,000×100/15,000×8 =6×100/15×8 =2×50/5×4 =1×10/1×2 =10/2 =5R= 5% p.a.Rate of interest should be 5% p.a. 5%=R. please like as best |
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