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RD Sharma Solutions Class 8 Mathematics Solutions for Compound Interest Exercise 14.2 in Chapter 14 - Compound Interest
Prev
A certain sum amounts to Rs. 5832 in 2 years at 8% compounded interest. Find the sum.
Answer:
Given details are,
Amount = Rs 5832 \
Time = 2 years
Rate = 8%
Let principal be = P
By using the formula,
A = P (1 + R/100)^n
5832 = P (1 + 8/100)^2
5832 = P (1.1664)
P = 5832/1.1664
= 5000
∴ Required sum is Rs 5000
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