find the sum that will amount to rs4928 in 2 years at compound interest, if the rates for successive years are 10% and 12% respectively.(ans=4000)
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A = Rs. 4928
T = 2 yrs
R₁ = 10% p.a
R₂ = 12% p.a
P = ?
A = P(1+R₁/100)(1+R₂/100)
4928 = P ( (100+10) /100 )( (100+12) /100 )
4928 = P ( 110/100 )( 112/100 )
∴ P = (4928*100*100) / (110*112)
P = Rs. 4000
T = 2 yrs
R₁ = 10% p.a
R₂ = 12% p.a
P = ?
A = P(1+R₁/100)(1+R₂/100)
4928 = P ( (100+10) /100 )( (100+12) /100 )
4928 = P ( 110/100 )( 112/100 )
∴ P = (4928*100*100) / (110*112)
P = Rs. 4000
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