the amount at compound interest which is calculated yearly on a certain sum of money is rupees 4840 on 2 years and rupees 5324 in 3 years. calculate the rate and principal
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3rd year amount 2nd year amount difference is equal to one year interest. Either SI or CI (since for a single year SI=CI).
r= 10% .
A=p(1+r/100)^t
p=4400
r= 10% .
A=p(1+r/100)^t
p=4400
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answer attached.
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