1.

On a certain sum,the CI in 2 year amounts to 4240.if the rates of interest is compounded annually

Answer»

R=12%
4240=P{ (1 + 12/100)^2 - 1}
4240= p { (28/25)^2 -1}
4240 =p { 784 -625 /625 }
4240×625/129 =p
p= 20542 .63 or 20543 qpprox



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