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Calculus/compound interest


IF compound interst ifor 3rdy year is Rs.968 and Simple interest for three years is Rs.2400 . Find the rate of interest and principle

If the 2400 over 3 years is looked at, that means 800 per year.
If the 968/800 is looked at, that gives 1.21.
Since the square-root of 1.21 is 1.1, that means the interest is 10%.

This means both would earn 800 the 1st year.
The 2nd year, compound interest would earn 880.
The 3rd year, compound interest would earn 968.

Since the base was 10%, the amount at the start is 800*10 = 8,000.


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