Selina Concise Mathematics Class 9 ICSE Solutions Compound Interest (Using Formula)
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Selina ICSE Solutions for Class 9 Maths Chapter 3 Compound Interest (Using Formula)
Exercise 3(A)
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At 5% per annum the sum of Rs.6,000 amounts to Rs.6,615 in 2 years when the interest is compounded annually.
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Let Rs.x and Rs.y be the money invested by Pramod and Rohit respectively such that they will get the same sum on attaining the age of 25 years.
Pramod will attain the age of 25 years after 25 – 16 = 9 years
Rohit will attain the age of 25 years after 25 -18 = 7 years
Pramod and Rohit should invest in 400:441 ratio respectively such that they will get the same sum on attaining the age of 25 years.
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Exercise 3(E)
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