in what time will 2000 lent at 5 percent pa fetch 2050 at ci
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Answer:
SI for first year = 300
SI for second year = 300
CI for first year = 300
CI for second year = 315
The additional CI of Rs 15 is interest on Rs 300 interest received in first year. So rate of interest is 15/300 x 100 = 5%.
Now, interest of Rs 300 at the end of first year @ 5% pa means principal at the beginning of the year is :
P = 300/5 x 100 = Rs 6000
Note that no formulae for SI or CI is used in the answer and the solution is based on understanding of core concept.
Step-by-step explanation:
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