Simple interest on Rs X for 3 years at 8% equals half the compound interest on Rs 4000 at 10% for 2 years. Find X
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Answer:
X= 1000
Step-by-step explanation:
Simple interest = X (3) (8)/ 100
= 24X/100
Compound interest = P (1+r/100) ^ n
= 4000(1+10/100)²
=4840.
→ Compound interest = 4840-4000 = 840
given, 24X/100 = 1/2 (840)
on solving, we get X = 1000
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