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      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'?
      A 10000 Correct Answer Incorrect Answer
      B 15200 Correct Answer Incorrect Answer
      C 15000 Correct Answer Incorrect Answer
      D 12650 Correct Answer Incorrect Answer

      Solution

      ATQ,

      Amount at the end of two years = x ├Ч (1.2)2 ATQ: x ├Ч 1.44 - x = 6600 Or, 0.44x = 6600 So, x = 15000┬а

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