A sum was lent at 20% pa compound interest. If the interest for the fourth year is 1728, the difference in interest for the first year and the interest for the second year is?
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Answered by
0
Answer:
Step-by-step explanation:
If x is the amount that is lent, the interest compounded for the first year at 20% is 0.2x
0.2
x
However, for the second year the interest is calculated on x+0.2x=1.2x
x
+
0.2
x
=
1.2
x
The interest calculated for the second year is 0.2∗1.2x=0.24x
0.2
∗
1.2
x
=
0.24
x
Now 0.24x=1440−>x=14400.24=1440∗10024=$6000
0.24
x
=
1440
−
>
x
=
1440
0.24
=
1440
∗
100
24
=
$
6000
Therefore, the sum of money that was lent is $6000
Answered by
0
Answer:
no no no no no no no no no no no no no no no
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