A certain amount of money amounts to rs 4400 in two years and to rs 4600 in three years find the principal and rate of interest.
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Amount 4000
Rate of interest 5 %
Principal4000
End of 1st year=(4000+200)
End of 2nd years=(4200+200)
End of 3rd year= (4400+200)
Rate of interest 5 %
Principal4000
End of 1st year=(4000+200)
End of 2nd years=(4200+200)
End of 3rd year= (4400+200)
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Answer:
Principal is 200
Rate is 5 percent
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