Calculate the amount and the compound interest when 2000 is lent for 2 years at the rate of 10% p.a. ( ans: ₹2420, ₹420 )
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QUESTION:
☞Calculate the amount and the compound interest when 2000 is lent for 2 years at the rate of 10% p.a.
SOLUTION:
AMOUNT
☞Principal = 2000
Rate = 10%p.a.
Time = 2years
Amount = p × (1 + r/100)^t
= 2000 × (1 + 10/100)²
= 2000 × (1 + 1/10)²
= 2000 × (10+1/10)²
= 2000 × (11/10)²
= 2000 × 121/100
= 121 × 20
= 2420
ANSWER:
AMOUNT
☞2420☜
COMPOUND INTEREST
☞420☜
Answered by
6
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