The compound interest on a certain sum for two years at 20% per annum is rs. 770. If the same sum is lent for 3 years at simple interest for 1% per month, find the interest obtained on the sum
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Heyy mate ❤✌✌❤
Here's your Answer.....
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let the sum be P.
CI = P(1 + 20/100)2 – P = 770
=> 1.44P – P = 770
=> 0.44P = 770
=> P = 1750
Now rate of interest = 1% pm = 12% p.a.
SI = 1750 × 12 × 3 / 1000 = 630
✔✔✔
Here's your Answer.....
⤵️⤵️⤵️⤵️⤵️⤵️
let the sum be P.
CI = P(1 + 20/100)2 – P = 770
=> 1.44P – P = 770
=> 0.44P = 770
=> P = 1750
Now rate of interest = 1% pm = 12% p.a.
SI = 1750 × 12 × 3 / 1000 = 630
✔✔✔
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