Application 1. If I take a loan of 1400 at 5% compound interest per annum for 2 years. Let
us write by calculating how much compound interest and total amount I shall pay.
tuan
100.00
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2
Answer:
Here A= amount, P= principal, R= rate of interest
A = P+ (1+ R/100)N
1400+ (1+ 5÷100)2
1400×105÷100×105÷100
1400×105×105÷10000
15435000÷10000
Amount= 1543.5
Compound interest = Amount - Principal
= ₹1543.5 - ₹1400
= ₹ 143.5
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Answer:
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