The compound interest on a certain sum of money in 2 years and 4 years are Rs 4,200
and Rs 9,282 respectively. Calculate the compound interest of the sum in 3 years
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Answer:
Sum of money → II year Rs. 4000 → III year Rs. 5000
There is increase of Rs. 1000 in 1 year due to interest
1000=1004000×R×1
∴R=25% per annum.
[S.I.=100P.R.T]
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