a sum of money amounted to rs2520 at 10% per annum in 4 years ,find the sum
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Let the sum be P
rate (R) = 10% p.a.
time (N) = 4 years
Assuming Simple Interest
Interest (I) in 4 years = PNR/100 = P*4*10/100 = 0.4P
Amount after 4 years = P+I = P+0.4P = 1.4P
1.4P =2520
P = 2520/1.4 = Rs 1800
rate (R) = 10% p.a.
time (N) = 4 years
Assuming Simple Interest
Interest (I) in 4 years = PNR/100 = P*4*10/100 = 0.4P
Amount after 4 years = P+I = P+0.4P = 1.4P
1.4P =2520
P = 2520/1.4 = Rs 1800
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