A sum is lent on compound interest for 2 years at 12% p.a. If the compound interest on the sum is Rs. 4070.4, find the sum of amount lent.
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Answer:
21274.624
Step-by-step explanation:
First find principal=I×100/R×T
=4070.4×100/2×12
=16960
Now, A=P×(1+R/100)^2
=16960×(28/25)^2
=16960×784/625
=21274.624
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