Question
A sum is lent on compound interest for 2 years at 13%
p.a. If the compound interest on the sum is Rs.3045.9, find the sum.Solution
Let the sum be Rs.x. According to question, => 3045.9 = x(1.13)2 – x => 3045.9 = 1.2769x – x => 3045.9 = 0.2769x => x = Rs.11000
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