Calculate the compound interest on Rs.12,500 for 2 years at 6% per annum
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Answer:
1500 is the interest
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mani90316:
1500
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amount = P(1+r/100)n
amount = 12,500(1+6/100)2
amount= 12,500(106/100)2
amount = 12,500×106/100*×106/100
amount = 14045rs.
compound interest = amount - principle
compound interest = 14045-12,500
compound interest = 1545rs.
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