Question
A invested Rs. ‘x’ in a scheme offering compound
interest of 12% p.a. compounded annually. If at the end of 2 years, interest received by A was Rs. (x – 7456), then find the value of ‘x’.Solution
According to the question, x – 7456 = x × 1.12 × 1.12 – x Or, 0.7456x = 7456 Or, x = 10000
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