A farmer borrowed rs.12800from a money lender to install a jet pump. The rate of interest is 11 1/4% per annum compounded annually. At the end of 2years, the farmer cleared the loan by paying rs 10842 and a gold ring. Find the cost of the ring ...
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this is very simple I HOPE IT'S HELP YOU
Step-by-step explanation:
FIRST WE FIND THE CI
principal,P = 12800, Rate=45/4%,time,n=2 years
amount= p(1+R/100)^n
substitute the value
A=12800(1+45/100×4)²
A=12800(445/400)²
A=12800×445/400×445/400
A=12800×89/80×89/80 { we cut off the above value by 5}
after this , the next step is in the picture.
cost of ring = rupees 5000
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