Find the sum which amounts to Rs.40000 in 2 yrs at the rate of 7/2% compounded annually.
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6
Answer:
193.23
Step-by-step explanation:
Let the sum be p.
=> 40000 = p(1 + 7/200)^2
=> 200 = 207/200 × p
=> p = 40000/207 = 193.23
Therefore, answer is 193.23
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