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A sum of money invested at 8% per annum amounts ₹,2, 12122 in 2 years. What will it amount to in 2 years, 8 months at 9% per annum?
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A sum of money invested at 8% per annum amounts ₹,2, 12122 in 2 years....
Given Information:
The principal amount = ₹2,12122
Rate of interest = 8%
Time = 2 years
Calculating the Amount after 2 years:
Using the formula for simple interest:
A = P(1 + rt)
Where:
A = Amount
P = Principal amount
r = Rate of interest
t = Time
Substitute the given values:
A = 212122(1 + 0.08*2)
A = 212122(1.16)
A = ₹2,46,107.52
Therefore, the amount after 2 years will be ₹2,46,107.52.
Calculating the Amount after 2 years and 8 months:
To find the amount after 2 years and 8 months, we need to convert 8 months into years:
8 months = 8/12 years = 2/3 years
Given:
New rate of interest = 9%
Time = 2 years + 2/3 years = 8/3 years
Using the same formula:
A = P(1 + rt)
Substitute the values:
A = 212122(1 + 0.09*(8/3))
A = 212122(1 + 0.24)
A = 212122(1.24)
A = ₹2,63,162.48
Therefore, the amount after 2 years and 8 months at 9% per annum will be ₹2,63,162.48.
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A sum of money invested at 8% per annum amounts ₹,2, 12122 in 2 years. What will it amount to in 2 years, 8 months at 9% per annum?
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A sum of money invested at 8% per annum amounts ₹,2, 12122 in 2 years. What will it amount to in 2 years, 8 months at 9% per annum? for Class 7 2024 is part of Class 7 preparation. The Question and answers have been prepared according to the Class 7 exam syllabus. Information about A sum of money invested at 8% per annum amounts ₹,2, 12122 in 2 years. What will it amount to in 2 years, 8 months at 9% per annum? covers all topics & solutions for Class 7 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A sum of money invested at 8% per annum amounts ₹,2, 12122 in 2 years. What will it amount to in 2 years, 8 months at 9% per annum?.
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