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Question

A sum of money invested at 8% per annum amounts to Rs 12122 in 2 years. What will it amount to in 2 years 8 months at 9% per annum?

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Solution

Let the required sum be Rs. x.S.I.=P×R×T100=x×8×2100=16x100 A=P+S.I. =x+16x100=100x+16x100=116x100But the amount is Rs. 12122. =>116x100=12122 =>x=12122×100116=10450Now, S.I.=P×R×T100=10450×93×328100×1241=Rs. 2508A=P+S.I. = Rs. 10450 + Rs. 2508 = Rs. 12958

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