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Math
Constance Coleman

Joseph deposited 15000/- in a bank at the rate of 10% simple interest. Rafeek deposited 15000/- in another bank at the rate of 10% compound interest.a) After 2 years, How to find out how muchamount would Joseph get back? b) After 2 years, How to find out how muchamount wouldRafeek get back?​

answers: 1
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Answer:

For first two years,

P=15,600

T=2

R=10%

∴S.I=

100

PTR

=

100

15600×2×10

=Rs3120.

For next two years,

P=(15600+3120)

=18720

T=2

R=10

⇒S.I=

100

18720×2×10

=Rs 3744.

SinceRs 3744 is earned in 3

rd

and 4

th

year combined, interest only in 4

th

year =

2

3744

=Rs.1872

65
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