SIMPLE INTEREST
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SIMPLE INTEREST
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Amount<br />
= Rs. 500.<br />
=[Rs.(500<br />
x(1+5/100)²]<br />
=<br />
Rs(500x21/20x21/20).<br />
=Rs. 551.25<br />
C.I<br />
= Rs. (551.25 - 500)<br />
= Rs. 51.25<br />
In what time will Rs.1000 become Rs.1331 at 10%<br />
10.<br />
per annum compounded annually?<br />
A. 2 years B. 3 years<br />
C. 4 years D. 7 years<br />
Solution<br />
Principal<br />
Amount<br />
Rate<br />
= Rs.1000;<br />
= Rs.1331;<br />
= Rs.10%p.a.<br />
[1000(1+10/100)Λn;]<br />
Let the time be n years.Then = 1331.<br />
= (1331/1000)<br />
= (11/10)³<br />
Therefore n = 3 years.
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