calculate simple interest for rs.5,000/- for 2 years at rate of interest per annum is 8%.
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800 rs is correct answer
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Given: P=5000,R=8%, T=2 years
Amount=P×(1+
100
R
)
T
=5000×(1+
100
8
)
2
=5000×(1.08)
2
=5832
CI=Amount–Principle=5832–5000=832
∴ Amount is Rs.5832 and compound interest is Rs.832
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