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A sum of money is lent out at compound interest for two years at 20% per annum, compound interest being reckoned yearly. If the same sum of money was lent out at compound interest at the same rate per annum, compound interest being reckoned half-yearly, it would have fetched Rs. 482 more by way of interest in two years. Calculate the sum of money lent out.

A sum of money is lent out at compound interest for two years at 20% per annum, compound interest being reckoned yearly. If the same sum of money was lent out at compound interest at the same rate per annum, compound interest being reckoned half-yearly, it would have fetched Rs. 482 more by way of interest in two years. Calculate the sum of money lent out.

Grade:12th pass

1 Answers

Pawan Prajapati
askIITians Faculty 60796 Points
2 months ago
Our expert is working on this Class IX Maths answer. We will update the answer very soon.

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