A sum of money invested at 8%p.a. amounts to 12122 in 2 years.What willit amount to2 years 8 months at 9%p.a.
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We know that A = P(1+rt/100)
12122 = P(1+16/100)
P = 10450.
After 2 years 8 months, it will be 10450 * (1 + 8/3 * 9/100)
= 10450 * 124/100
= 12958.
12122 = P(1+16/100)
P = 10450.
After 2 years 8 months, it will be 10450 * (1 + 8/3 * 9/100)
= 10450 * 124/100
= 12958.
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