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InterviewSolution
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Sandeep deposited Rs 25000 in a bank which pays 8% interest compounded annually. How much would he get back after two years? |
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Answer» Interest in the first year = 25000 × \(\frac{8}{100}\) = Rs 2000 Principal in the second year = 25000 + 2000 = 27000 Interest in the second year = 27000 × \(\frac{8}{100}\) = 2160 Total amount gets back at the end of 2 year = 27000 + 2160 = 29160 |
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