What sum of money will earn an interest of ₹160 at the rate of 4% per year for 2 year
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Answer:
S.I=Rs.340,Time=2 years,R=4%
(i)Let the sum of money be rs.x
S.I= PRT/100
⇒340=
x×4×2/100
⇒x=
4×2/340×100
=Rs.4250
(ii)C.I for Rs. 4250 for one year payable half-yearly
∴ T=1 year=2 half year,Rate=4/2
=2%
A=P(1+
100R T)
⇒4250(1+ 100/2)²
⇒4250( 100/102 ) ²
⇒4250× 50/51 × 50/51
=4421.70
C.I=A−P
⇒4421.70−4250=Rs.171.70
Explanation:
hope this help you.....
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