What sum of money at compound interest will amount to rs.650 at the end of one year and rs.676 at the end of 2 years?
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Your answer is 625. Principal = P (let), Rate = R% per annum, A=P (1+RT1001+RT100), 650= P(1+R1001+R100), 650P650P=P(1+R1001+R100)...(I), Again, 676 = P(1+R21001+R2100), P= 650×650676650×650676= 625.
The sum of money is Rs. 625. As well as he compound interest on Rs.2000 in 2 years, if the rate of interest is 4% per annum.
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