The CI on a sum in 8 year is Rs.400 and CI on the same sum in 16 years is Rs.441 find CI on tha same sum in 20 years.
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The CI on the same sum is Rs 2110
Step-by-step explanation:
The CI on a sum in 8 year is Rs 400
Compound Interest, CI = Rs 400
Principal, P = p
Time, t = 8 years
Rate of interest, r = r
The CI on same sum in 16 years is Rs 1300
Compound Interest, CI = Rs 1300
Principal, P = p
Time, t = 16 years
Rate of interest, r = r
----------------- (2)
Divide eq(2) by eq(1)
Solve for r
Put r in equation 1
Put P = 320, r = 0.1067, t = 20 into CI formula
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