Question

3)Find the amount if principal 2 points
is Rs 2000 rate 5 (p.c.p.a) And
duration 2 years. *
O a)2205
O b)2225
O c)205
O d)225​

Answer 1

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For the first year, P=Rs.2000,R=5%

so, I = P × R × T / 100

= Rs.2100 × 5 × 1 / 100

=Rs.105

The amount after the second year

= Rs.2100 + Rs.105

= Rs.2205

Final amount =Rs.2205

Hence, Compound Interest

= final amount - original amount

= Rs.2205−Rs.2000

= Rs.205

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