find the amount and compound interest when the interest is compounded annually ii) principal = Rs 180000, time = 2 years, rate = 15 1/2
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Answer:
Step-by-step explanation:
Given - Principal = 18000
Rate of interest = 15.5%
Years = 2
Amount = Principal (1 + R / 100) raised to N
= 18000 (1 + 15.5 / 100) raised to 2
= 18000 x 115.5 / 100 x 115.5 / 100
= 18 x 115.5 x 115.5 / 10
= 240124.5 / 10
= 24012.45
Therefore the amount will be rs. 24012.45
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