Question

₹ 63000 for 2 years at 12 % pa compounded yearly

P=63000 , N=2 , R=12
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please tell the answer by explaining ​

Answer 1

Answer:

we will first calculate the amount after one year.

Step-by-step explanation:

si after 1 year=prt/100

=63000*1*12/100

=7560

amount after one year=63000+7560=70560

now we will calculate si for next year on the new amount we got

si after 2 years =prt/100=70560*1*12/100=8467.20

amount=70560+8467.20=79027.20