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Question 74
Compound interest received on a sum in $$5^{th}$$ year is ₹ 1200 (interest is compounded annually).If the rate of interest is 22.5% per annum, then what will be the interest in 6th year?
Solution
Interest in 6th year, interest being compounded annually = $$1200+(\frac{22.5}{100}\times1200)$$
= $$1200+270=Rs.$$ $$1470$$
=> Ans - (A)
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