Question
A sum is lent on compound interest for 2 years at 11%
p.a. If the compound interest on the sum is Rs.3713.6, find the sum.Solution
Let the sum be Rs.x. According to question, => 3713.6 = x(1.11)2 – x => 3713.6 = 1.2321x – x => 3713.6 = 0.2321x => x = Rs.16000
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