calculate the compound interest on rupees 12000 for 2 years at 6% per annum find the difference between compound and simple interest
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calculate the compound interest on rupees 12000 for 2 years at 6% per annum find the difference between compound and simple interest please follow me
Answered by
1
Answer:
Step by step explanation:
Given,
Principal = ₹12000
Rate = 6%
Year = 2yr
Therefore, A/q
A = p(1 + r/100)^2
= 12000 (1 + 6/100)^2
= 12000 × 106/100 × 106/100
= 13483.2
Then,
CI = A - P
= ₹13483.2 - ₹12000
= ₹1483.2
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