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The compound interest, calculated yearly on a certain sum of money for the 2nd year is Rs 880 & for the 3rd year it is Rs 968. Calculate the rate of interest & the original money. |
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Answer» ∵ Difference between the C.I of two successive years=Rs.880−968=Rs.88 ∴Rate of interest= P×T 100×I = 880×1 100×88 =10% Let the SUM of money=Rs.100 ∴interest for ONE year=10% of 100= 100 10 ×100=Rs.10 AMOUNT after one year=100+10=Rs.110 ∴Interest foe second year=10% of 110= 100 10 ×110=Rs.11 When the interest for second year is rs .11 then sum=Rs.100 When the interest for second year is Rs.880 then sum= 11 100 ×880=Rs.8000Explanation:hope it is help youplease MARK as me brainlist |
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