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      Question

      A invested Rs. β€˜x’ in a scheme offering compound

      interest of 20% p.a. compounded annually. If at the end of 2 years, interest received by A was Rs. (x – 4480), then find the value of β€˜x’.
      A 12240 Correct Answer Incorrect Answer
      B 10040 Correct Answer Incorrect Answer
      C 10240 Correct Answer Incorrect Answer
      D 10200 Correct Answer Incorrect Answer

      Solution

      According to the question, x – 4480 = x Γ— 1.25 Γ— 1.25 – x Or, 0.4375x = 4480 Or, x = 10240

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