23. The compounded interest on Rs. 50,000 at 8% per annum for 2 years, compounded annually is
a) Rs 8000
b) Rs 8250
c) Rs 8350
d) Rs 8640
Answers
Answered by
5
Answer:
Step-by-step explanation:
given
principal amount = 50000
rate of interest = 8%
time = 2yr
interest =P x R x T
--------------
100
= 50000 x 8 x 2 /100 (2 zeros in 50000 get cancelled by zeros in 100)
= answer is 500 x 8 x 2
= 4000 x 2
= answer is option a rupees 8000
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