find compound interest and simple interest of rupees 600 for 2 years and rate 5%
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Principle =600
rate =5%
time =2 years
simple interest =P×R×T/100
S.I=600×5×2/100
S.I.=₹60
Amount =P(1+R/100)^t
=600(1+5/100)^2
=600(1+1/20)^2
=600(21/20)^2
=600×21/20×21/20
=6×21×21/2
=₹633.50
C.I=Amount - Principle
C.I=633.50-600
C.I=₹33.50
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