calculate the amount and the compound interest on rupees 25000 for 2 years at 8 % per annum compounded annually.
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Principal = Rs. 25000
Time = 2 years
Rate of Interest = 8% per annum
Amount on Rs. 25000 for 2 years at the rate of 8% per annum compounded annually
= Rs. 25000 (1 + 8/100)^2
= Rs. (25000×108×108)÷(100×100)
= Rs. 29160
Compound Interest = Rs. (29160 - 25000)
= Rs. 4160
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27
This is the way u need to solve this problem...Hope it helps
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