Find the amount and the compound interest on 2000 at 10% p.a. for 2 years, compounded annually
please don't use P (1+ R/100) formula
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Answer:
P=Rs 2000
R=10%
T=2
1/2
years =
2
5
years.
A=P(1+
100
R
)
T
=2000(1+
100
10
)
5/2
=2000(
10
11
)
5/2
=2538.1
≃ 2538
C.I=A−P
=2538−2000
=538.
Hence Amount =Rs 2538
C.I=Rs 538
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