The formula for CI to be calculated for principal P and at rate R is P((1+(R/100))^T), where T is the time period.
Let the principal be Rs. P and the rate of interest be R % per annum.
Given, P(1+R/100) - P = 2592 and P(1+R/100)^3 - P(1+R/100)^2 = 3528.
We get, PR = 259200 and PR(1+R/100)(1+R/100) = 352800.
Solving the above two equations, we get
R = 50/3 and P = 15552.
CI for 4th year can be calculated by P(1+R/100)(1+R/100)(1+R/100)(R/100).
Solving which we get, CI for 4th Year = Rs. 4116.
Question : The difference between CI and SI for 2 years at a 10% rate of interest is Rs. 4. Find the sum of money:
Option 1: Rs. 400
Option 2: Rs. 200
Option 3: Rs. 300
Option 4: Rs. 800
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