find the sum of money 2600 in 5yrs at the interest rate of 6% per annum
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Answer:
Given, P= Rs 2000, A= Rs 2600, T=5 years
∴ S.I.=A−P= Rs 2600− Rs 2000 = Rs 600
R =
P×T
S.I.×100
=
2000×5
600×100
=6% per annum
Now, P= Rs 2000, T=5 years,
R=(6+3)%p.a.=9% per annum
∴ A=P+
100
P×R×T
= Rs 2000 + Rs
100
2000×9×5
= Rs 2000 + Rs 900 = Rs 2900.
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