A sum becomes rs 3136 after 2 years at 12 per annum compounded annually find the sum

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A sum invested at compound interest amounts to Rs. 3,136 in two years and Rs. 3,512.32 in 3 years at a certain rate percentage per annum, when the interest is compounded annually. What will the same sum amount to at the same rate in 8/3 years, interest compounded annually (nearest to one rupee)?
1. Rs. 3,387
2. Rs. 3,378
3. Rs. 3,487
4. Rs. 3,478

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Kishore Khosla
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1 Answers

Kishore Khosla

Grade 11

A= P(1+r/100)^n
3136= P(1+12/100)^2
3136= P(112/100)^2
3136= P(1.2544)
P= 2500

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