Calculate the amount and the compound interest:
(i)3,500 at 10% per annum in 2 years.
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amount-4235
compound interest-735
Interest for 1st year= 3500×10×1
100
=350
Amount=interest+principal
=350+3500=3850
Interest for 2nd yr=3850×10×1
100
=385
Amount=interest+principal
=3850+385
=4235
compound interest=Amount-Original principal
=4235-3500
=735
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