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Calculate CI that will be received if Rs 1000 is deposited in bank at r = 20% for 2 years withinterest getting compounded six monthly |
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Answer» -STEP EXPLANATION:GIVENP=£1000r=20%n=2years 1ST YEAR,I=P×R×T/100I= 1000×20×1/100I=200amount= I+P = 200+1000 = £12002nd year,I=P×R×T/100I=1200×20×1/100I=£240amount =I+P = 240+1200 =1440CI=A-P =1440-1000 = 440 |
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