calculate the amount and compound interest on Q1. $10,800 for 3 years at 12-1/2percent per annum compound annually.
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Step-by-step explanation:
Let us assume cost of the tricycle be x.
It is given that it is sold at a gain of 15% = 15x/100.
Also it is given that if it sold for 108 the profit would have been 20% = 20x/100.
20x/100 - 15x/100 = 108
5x/100 = 108
5x = 10800
x = 2160
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