find simple intrest and amount to be paid in the end of 2 years. If principal is ₹20000 at the rate of 7% per annumn
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Step-by-step explanation:
We have P = Rs. 20,000, R
1
= 2% and R
2
= 3% and n = 2 years.
Here, we can find the amount directly using the formula,
A=P(1+
100
R
1
)(1+
100
R
2
)
Thus,
A=20,000(1+
100
2
)(1+
100
3
)=20,000(1.02)(1.03)=21,012.
Hence the amount after 2 years is Rs.21,012.
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