calculate compound interest on rupees 5000 at the rate of 15% per annum for 2 years.
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Answer:
step1 Principal for first year =₹5000
interest for the first year = 5000×15×1 / 100
= ₹ 750
amount at the first year =₹(5000+750)
=₹ 5750
principal of the first year = 5750×15×1 /100
=₹ 862.5
therefore, the compound interest at the end of the second year
interest for the first year + interest for the second year
=₹(750+862.5)
=₹1612.5 answer
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