A sum of money becomes ₹2074 in 2 years at compound interest at the rate of 4% per annum.Find the sum of money and the interest generated
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Answer:
Sum = 1917.5 , CI = 156.5
Step-by-step explanation:
A = P( 1+ r/100)t
2074 = P( 1+4/100) ^20
P= 1917.5
A= P+CI
CI = A- P
2074 - 1917.5
= 156.5
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