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Find compound interest on Rs.12600 for 2 years at 10% per annum compounded annually. |
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Answer» P = Rs.12,600; R = 10%; n = 2 years A = P\([1\,+\,\frac R{100}]^n\) = 12600 \([1\,+\,\frac {10}{100}]^2\) = 12600\([1\,+\,\frac 1{10}]^2\) = 12600 x \(\frac{11}{10}\) x \(\frac{11}{10}\) = 126 x 121 A = Rs.15246 ∴ Compound Interest = Amount – Principal = 15,246 – 12,600 ∴ C.I. = Rs.2646 /- |
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