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Note: Some variables are missing, you have to find the missing values on the basis of given information. Calculate simple interest unless specified. All questions are independent from others.If the amount received by Amit is 2 times of the money invested by him then find amount he will receive after 2 years if he invests the same amount of money in compound interest for 2 years compounded half yearly?1). Rs. 94800.552). Rs. 35400.553). Rs. 25850.454). Rs. 15280.55 |
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Answer» Amount invested by Amit i.e. PRINCIPAL = 29000/2 = Rs. 14500 Interest received by Amit = 29000 - 14500 = Rs. 14500 Let the rate of interest for Amit be X ⇒ x = 14500 × 100/(14500 × 5) ⇒ x = 20% ∴ Amount he will receive if compounded half yearly for 2 years = 14500 × (1 + 10/100)4 = 14500 × 11/10 × 11/10 × 11/10 × 11/10 = Rs. 21229.45 |
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