Compound interest on a certain sum of money at 5% per annum for two years is 246. Calculate simple interest on the same sum for 3 years at 6% per annum.
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Answer:
CI = Rs. 246, R = 5%, T = 2 years
CI = A - P
246=P(1+ 5/100)2−p
246=p|(2/10)2|-p-
246=P 61/400
P= 246×400/41
= Rs. 2400
Now, P = Rs. 2400, R = 6%, T = 3 years
SI = 2400×6×3/100
= Rs. 432
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