A certain sum of money invested at CI becomes Rs 3380 in 2 years & Rs 3515.20 in 3 years. What is the sum invested & what is rate % per annum?
A certain sum of money invested at CI becomes Rs 3380 in 2 years & Rs 3515.20 in 3 years. What is the sum invested & what is rate % per annum?
(d):3515.2 – 3380 = 135.2 = SI on Rs. 3380 for one year.
By SI formula, 135.2 = or R = 4 %
Now we have 3380 = P (1.04)2 or P = Rs. 3125
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