Calculate the compound interest on rs.45000 at 12 percent per annum fir 2 years
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HERE IS YOUR ANSWER
GIVEN :-
PRINCIPAL(P) = 45000
RATE(R) = 12%
TIME(N) = 2 YEARS
A = AMOUNT
CI = COMPOUND INTREST
THEREFORE,
A = P(1+R/100)^N
A = 45000(1+12/100)^2
A = 45000×112/100×112/100
A = 45×112×112/10
A = 9×112×112/2
A = 9×56×112
A = 56448
CI = A-P
CI = 56448-45000
CI = 11000
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