Question

4.) Find the sum of money that amounts to Rs 12400 in 4 years at the interest rate of 6% per annum.
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Answer 1

Answer:

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Step-by-step explanation:

In 6 years, 1600 - 1240 = 360 was added as interest. That means the interest per year = 360/6 = 60. So for the first four years 60*4 = 240 must be added as interest to the principal. So principal = 1240 - 240 = 1000.

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