2. A sum amounts to 5940.50 in 2 years at 9% per annum compound interest. find sum
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Step-by-step explanation:
Let,the sum be=P
For first year, Principal=P. Time=1. Rate= 9%
S.I= PTR/100 =P×1×9/100=9P/100
Amount=Principal+Interest
=P+9P/100
=109P/100
For Second year, Principal=109/100. Time=1. Rate= 9%
SI=PTR/100=109P/100×1×9/100=981P/10000
Amount= 109P/100+981P/100=11881P/10000
Now, according to the question.
11881P/10000=5940.50
or,P=5940.50×10000/11881
or,P=5000(594050, divisible by 11881, that's (5×11881(
Ans,The Sum is 5000
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Answer:
5000
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