A certain amount of money earns Rs.540/- as simple interest in 3 years. If it earns a compound interest of Rs.376.20/-at the same rate of interest in 2 years, then find the amount...
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Answer:
540=P×R×T100
PR=18000...1
CI = P[(1+R100)2−1]
376.20 = P[(1+R100)2−1]
=P[R2(100)2+2R100]
=[PR×R(100)2+2PR100]
=18000R(100)2+18000×2100
376.20=18×R10+360
376.20−360=18R10
16.2=18R10
R=16218=9
from 1 P×R=18000
P×9=18000
P= Rs.2000
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