A certain sum when invested for 2 years at 20% per annum Compound Interest
(compounded annually), earns Rs.2288 as interest. What will be the interest
earned if the same sum of money is invested for 5 years at 12 % per annum
Simple Interest ?
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Answer:
step by step explaination:
Let the principal be Rs. P,
∴ C.I. = P [(1+R100)2−1]
= P [(1+20100)2−1]
= P [(1+15)2−1]
= P [(65)2−1]
= P (3625−1)
= Rs. 11P25
S.I. = Principal×Time×Rate100
= P×2×x100=Rs.2Px100
According to the question,
11P25=2×2Px100
=> 1125=4x100
=> 4x=110025=44
=> x = 444=11
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