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    Question

    Find the amount received from compound interest (Rs.) At

    Rs.18,800 for 2 years at an annual rate of 10%.
    A 25,748 Correct Answer Incorrect Answer
    B 22,748 Correct Answer Incorrect Answer
    C 23,748 Correct Answer Incorrect Answer
    D 24,748 Correct Answer Incorrect Answer

    Solution

    Principal amount, P = 18, 800 Rs Annual interest rate, r = 10% Number of years, n = 2 Plugging these values into the formula: A = 18800(1+10/100)2 Simplify the expression inside the parentheses: A = 18800 (1+0.10) ² = 18800 (1.10)2 Calculate (1.10)2: (1.10) ² = 1.21 Now multiply by the principal amount: A=18800 × 1.21 = 22748

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