Find compound interest on 12600 for 2 years at 10% per annum
compounded annually.
Answers
Answered by
3
Step-by-step explanation:
We have,
A=P(1+
100
R
)
n
Here, P=Rs.12600,R=10,n=2
Therefore,
A=12600(1+
100
10
)
2
=12600(
10
11
)
2
=12600×
10
11
×
10
11
=Rs.15246
CI=A−P=Rs.15246−Rs.12600=Rs.2646
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3
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