An amount @5% per annum becomes 10 rupees more at compound interest then that of simple interest after 2years. Calculate the principal
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Answer:
Simple interest = 27250 – 25000 = 2250
Time = 3 years.
SI = PTR / 100 → R = SI * 100 / PT
R = 2250 * 100 / 25000 * 3 → R = 3%.
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