An amount of rs 35000 is invested in a scheme oc compound interest. If rate of interest is 20% per annum, then what will be amount obtained after 2 years?
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Answer:
50400 will be the amount obtained after 2 years
Step-by-step explanation:
35000×20% = 7000 for first year
end of first year = 35000+7000 = 42000
42000×20% = 8400 for second year
end of second year = 42000+8400 = 50400
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