If the compound interest received on a sum of amount in the second year is 1200 what will be the compound interest in 4 th year
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Let p be the principal and r the rate of interest
Simple interest SI for 2 years will be
2pr =600*100
pr = 30000 ………(1)
CI stands for compound interest
CI - SI =p (r/100) ^2 = 15
pr^2 =15*10000 = 150000 ………(2)
Dividing equation 2/1 we get pr^2/pr = 150000/30000
Or, r =5%
So, principal P = 30000/5= 6000
Simple interest SI for 2 years will be
2pr =600*100
pr = 30000 ………(1)
CI stands for compound interest
CI - SI =p (r/100) ^2 = 15
pr^2 =15*10000 = 150000 ………(2)
Dividing equation 2/1 we get pr^2/pr = 150000/30000
Or, r =5%
So, principal P = 30000/5= 6000
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