Q21 of 45 Page 8

A sum of money was lent for 2 years at 20% compounded annually. If the interest is payable half-yearly instead of yearly, then the interest is Rs. 482 more. Find the sum.

Given,


Rate of interest = 20% p.a =


Time = 2 years =


Let principal = Rs. P


According to the question,


=


=


=


Hence,


Principal = Rs.20000

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