Question
A sum is lent on compound interest for 2 years at 14%
p.a. If the compound interest on the sum is Rs.4194.4, find the sum.Solution
Let the sum be Rs.x. According to question, => 4194.4 = x(1.14)2 – x => 4194.4 = 1.2996x – x => 4194.4 = 0.2996x => x = Rs.14000
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