5. Find the compound interest on 2000 for one year at the rate of 20% per annum, if
the interest is compounded quarterly
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Answered by
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Answer:
C.I. = 431.0125
Step-by-step explanation:
Amount = 2000[1+ 20/400] raise to power 4
= 2000[21/20]raise to 4
=2000 x 194481/160000
=2431.0125
C.I. = Amount - Principal
= 2431-2000
=431.0125
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