What sum of money will amount to 35445 in 2 years at 10% per annum
compound interest?
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Answered by
1
Answer:
Let sum of money be
′
P
′
.
Amount
′
A
′
=5445
T=2
R=10%
A=P(1+
100
R
)
T
⇒5445=P(1+
100
10
)
2
=P(
10
11
)
2
⇒P=(5445)×(
11
10
)
2
=4500
Hence, Sum of Money =Rs4500.
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