The difference between the compound interest , compounded annually and the simple interest on a certain sum for 4 years at 15 %per annum is ₹360 find the sum
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Answer:
2416
Step-by-step explanation:
use the formula
CI - SI
= P{(1+r/100)^n -1 - nr/100} = 360
n= 4, r = 15
you need to use either calculator or logarithmic table to make calculation with (115/100)^4.
The answer will be P = 2416.
hope you find it useful
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