A man invested a sum of money at ci it amount to rs 2420 in 2 years and to rs 2662 in 3 years .find the sum
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P [1+ R/100]n [When money is compounded annually]
= P [1+ R/(2*100)]2n [When money is compounded half-yearly]
= P [1+ R/(12*100)]12n [When money is compounded monthly]
Also, A = CI + P
Where,
P= Principal
R= Rate of Interest
n=Time (in years)
A= Amount
CI= Compound Interest
= P [1+ R/(2*100)]2n [When money is compounded half-yearly]
= P [1+ R/(12*100)]12n [When money is compounded monthly]
Also, A = CI + P
Where,
P= Principal
R= Rate of Interest
n=Time (in years)
A= Amount
CI= Compound Interest
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