on a certain sum of money at 5%rate of interest the compound interest of 3 years is 252.20. find simple interest of 2 years
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Answer:
Rs 240
Step-by-step explanation:
CI=252.20
T=3YEARS
R=5%
SI=?
A=P{1+ (r/100)}^n
A= P{ 1+5/100}^3
A=P(21/20)^3 ---------(1
CI=Amount-Principal
252.20 = P(21/20)^3 -P
252.20=P(21^3/20^3 -1)
252.20=(9261-8000)/8000
P=1600
SI=PNR/100
=(1600*3*5)/100
= 16*15
SI=240
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