Find the amount and compound interest on ₹ 14000 for 2 years at 5%.
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correct answer
Step-by-step explanation:
Principal for first year =₹14000,Rate=5%,Interest for first year =₹14000*5*1/100=₹700,Amount at the end of first year =₹14000+₹700=₹14700. Principal for second year =₹14700,Interest for second year =₹14700*5*1/100=₹735,Amount at the end of second year =₹14700+₹735=₹15435.
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