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The compound interest on Rs 50,000 at 4% per annum for 2 years compounded annually is (a) Rs 4,000 (b) Rs 4,080 (c) Rs 4,280 (d) Rs 4,050 |
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Answer» (b) Rs 4,080 Explanation: P = Rs.50000, R = 4%, T = 2 years A = P(1+R/100)T = 50000(1+4/100)2 = 50000(1+1/25)2 A = 50000(26/25)2 = 54080 Compound interest = A – P = 54080 – 50000 = Rs. 4080 |
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