Find compound interest on a sum of 8000 for 2 years at 5% p.a. compounded annuall
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Answer:
Step-by-step explanation:
Given : A sum of rs 8000 for 2 years at 5% per annum compounded annually.
To find : The compound interest ?
Solution :
The compound interest formula,
Substitute the values,
The amount is Rs. 8820.
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