Question
Find the compound interest on Rs. 8000 at 12% per annum
for 2 years (compounded annually).Solution
ATQ, Amount A = P*(1 + R/100)2 = 8000*(1.12)2 (1.12)2 = 1.121.12 = 1.2544 A = 80001.2544 = 10035.2 CI = A - P = 10035.2 - 8000 = 2035.2
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