Question
Rahul deposits a sum of money at an annual compound
interest rate of 15%. After 1 year, the interest accumulated amounts to Rs. 180. If he increases his initial investment by Rs. 1200, what will be the total amount after 1 year at the same interest rate?Solution
ATQ;
Let 15% = 180
Principal = 1200
Interest on 1200 = 15 × 12 = 180
Total = (180 + 180) + 1200 + 1200 = 2760
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