at what rate per cent per annum will ₹8000 amount to ₹10000 in 2 years
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Step-by-step explanation:
11.8% per annum
We are given that Rs. 8,000 amounts to Rs. 10,000 in two years. Assume the interest is calculated compounded annually. Therefore, rate of interest is 11.8% per annum.
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Answer: SI = P×R×T/100
SI = 8000×10000×2/ 100
= 16,00,000
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