Find compound interest on ₹12,600 for 2 years at 10% per annum compounded annually
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Step-by-step explanation:
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Answer :
A = P(1+R%/100)^n
= 12600 ( 1 + 10/100)^2
= 12600 * 110/100 * 110/100
= 126 * 11 * 11
= Rs 15246
CI = A - P
= 15246 - 12600
= 2646
CI on Rs 12600 is Rs 2646
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