Question

If the compound Interest on
certain sum at 10% p.a for 2 years is 420 find sum?​

Answer 1

Answer:

Time = 2 years,

Rate % = 10 %

Effective Rate % of CI for 2 year=10+10+10×10100

Effective Rate % of SI for 2 years = 2×10 = 20 %

Required SI=42021×20 = Rs.400

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