Question

find the amount received when a sum of Rs 500 is invested at 12% per annum for 2 years if the interest is compounded a) annually b) half-yearly c) quarterly d) monthly

Answer 1

Answer:

Simple interest gained from Rs.500=

100

500×12×4

=Rs.240

Let the other principal be x.

S.I. gained=Rs.(480–240)=Rs.240

∴

100

x×10×4

=240

⇒x=

40

240×100

=Rs600

Step-by-step explanation:

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