Question
A sum is lent on compound interest for 2 years at 9%
p.a. If the compound interest on the sum is Rs.2257.2, find the sum.Solution
Let the sum be Rs.x. According to question, => 2257.2 = x(1.09)2 – x => 2257.2 = 1.1881x – x => 2257.2 = 0.1881x => x = Rs.12000
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