a sum of money invested at 8 percent per annum amounts to 92,800 in 2 years. what will it amount to in 2 years and 8 months at 9 percent per annum?
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Given r=8%, t=2 years
We know that A=P(1+
1w
rt
)
⇒12122=P(1+
100
16
)
⇒P=10450
After 2 years 8 months, it will be
=10450×(1+
3
8
×
100
9
)
=10450×
100
124
=Rs.12958.
Hence, the answer is 12958.
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