A sum of RS.8000 is borrowed and rate of interest is 20% per annum, Wh – InterviewSolution

1.	A sum of RS.8000 is borrowed and rate of interest is 20% per annum, What is the Compound interest for 2years
Answer» ɴ →A sum of RS.8000 is borrowed and rate of interest is 20% per annum, What is the COMPOUND interest for 2yearsᴀɴsᴡᴇʀ →We KNOW formula for compound interest COMPOUNDED quarterlyCompoundInterest = Amount − PrincipalGiven,\longmapsto\tt{Rate=20%}=8000(1+ 2/4)=8000(1+0.05)³ =8000(1.05)³ =8000×1.15762=9261Amount is Rs9261Compound interest will be=(9261-8000)=Rs1261

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