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The compound interest earned in the third and the fourth years on a certain sum of money are Rs.576 and Rs.691.2. Find the sum.

Option 1)
Rs.1400
Option 2)
Rs.1200
Option 3)
Rs.1600
Option 4)
Rs.2000
Option 5)
Rs.1000

Answers (1)

best_answer

Difference in 4^th year interest and 3^rd year interest $= 115.2$

Rate = $\frac{115.2}{576}\times 100= 20\: ^{0}/_{0}$

$A2 = 576 \times \frac{100}{120} = 480$

$A1 =480 \times \frac{100}{120} = 400$

$P = \frac{400}{20}\times 100 = 2000$

Posted by

rishi.raj

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