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A sum was lent at 20% p.a compound interest, the interest being compounded annually. Rs. 1200 was paid back after 1 year. after another year rs. 1440 was repaid to clear the loan. find the sum lent?

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\\\text{Consider 2nd year. he has paid 1440 and clear the debt.} \\ \text{so the let amount remaining after 1 st year (giving 1200 ) be 'P' }\\ {P}[1+(20 / 100)]^{1}=1440 \\ P =1200

\begin{aligned} &\text {so the total amount after } 1 \text {st year }=1200+1200=2400\\ &\mathrm{P}[1+(20 / 100)]^{1}=2400\\ &P=2000 \end{aligned}

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