Question
What will be the compound interest earned after 2 years
on a deposit of Rs. 14,000 at an annual interest rate of 30%, compounded annually?Solution
CI = A - P CI = P x (1 + rate/100)t - P Required interest = 14000 × {(1.3)2 – 1} = Rs. 9660
Consider the following statements about Foreign Exchange Reserves:
1. These may include foreign currencies, bonds, treasury bills, and other gove...
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