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Question
A sum amounts to Rs 756.25 at 10% per annum in 2 years, compounded annually. Find the sum.
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Solution
Let the sum be Rs x .
Then,
\[A = P \left( 1 + \frac{R}{100} \right)^n \]
\[ = P\left[ \left( 1 + \frac{R}{100} \right)^n \right]\]
\[756 . 25 = x\left[ \left( 1 + \frac{10}{100} \right)^2 \right]\]
\[756 . 25 = x\left[ \left( 1 . 10 \right)^2 \right]\]
\[x = \frac{756 . 25}{1 . 21}\]
\[ = 625\]
Thus, the required sum is Rs 625 .
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