Question
The compound interest accrued
after 2 years on an investment of Rs. 'x' at an annual interest rate of 20%, compounded annually, amounts to Rs. 6,600. Determine the value of 'x'?Solution
ATQ,
Amount at the end of two years = x × (1.2)2 ATQ: x × 1.44 - x = 6600 Or, 0.44x = 6600 So, x = 15000Â
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