Find Compound interest on Rs/ 24,600 for 2 years at the rate of 5% compounded annually.
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Step-by-step explanation:
p=24600
t=2 years
r=5%
Amount =p(1+r/100)^t
A=24600(1+5/100)²
A=24600×(105/100)²
A=24600×(21/20)²
=(24600×441) /400
=246×441/4
solve this =27121.50
CI=A-P
=27121.50-24600
=2521.50 Rs
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