(C) Ifth
3. The compound interest on a certain sum is 43.56 for 2 years at 5% per annum. Find the sum
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Answer:
Rs. 424.98
Step-by-step explanation:
CI = Rs. 43.56
T = 2 years
R = 5 %p.a.
P = ?
A = CI + P
CI + P = P(1+R/100) ^T
=> 43.56 + P = P(105/100) ^ 2
=> 43.56 + P = 1.1025*P
=> 43.56 = -P + 1.1025P = 0.1025*P
=> P = 43.56/0.1025 = 424.98
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