compound interest on a certain sum of money at the rate of 5% becomes rupees 1537.50 in two years find simple interest on same sum for same time at the same interest rate
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compound interest on a certain sum of money at the rate of 5% becomes rupees 1537.50 in two years find simple interest on same sum for same time at the same interest rate
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Answer:
457 u like it is right but confirm not
Step-by-step explanation:
CI= P{(1+I)^n-1}
1537.50 = P{1.05^2 -1}
P= 15000.
using the information as provided
SI= P*R*T/100
SI= 15000*5*2/100
SI= 1500.
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