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Question

A sum of money if invested at compound interest for $$2$$ years amounts to Rs. $$57,600$$ and Rs. $$65,536$$ in $$4$$ years. Find the rate and the sum.


Solution

Let the sum be $$s$$
Rate be $$r$$
For $$2$$ years ,$$57600=s(1+r)^{2}$$
For $$4$$ years ,$$65536=s(1+r)^{4}$$
$$(1+r)^{2}=\dfrac{65536}{57600}\implies r=0.0667$$
$$s=50,625$$
Answer $$r=0.0667,s=50,625$$

Mathematics

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