Question
A sum of money at compound interest will amount to Rs.650 at the end of the first year and Rs.676 at the end of the second year. The amount of money is
Answer: Option A
Answer: (a)Principal = Rs.P (let)Rate = R% per annumA = P$(1 + R/100)^T$650 = P$(1 + R/100)$$650/P = (1 + R/100)$ ...(i)Again, 676 = P$(1 + R/100)^2$676 = P$(650/P)^2$= ${P × 650 × 650}/P^2$P = ${650 × 650}/676$ = Rs.625
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Answer: (a)Principal = Rs.P (let)Rate = R% per annumA = P$(1 + R/100)^T$650 = P$(1 + R/100)$$650/P = (1 + R/100)$ ...(i)Again, 676 = P$(1 + R/100)^2$676 = P$(650/P)^2$= ${P × 650 × 650}/P^2$P = ${650 × 650}/676$ = Rs.625
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