Find the amount and the compound interest on ₹ 4000 at 2% per annum for 3 years
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Answer:
Solution
Principal(P)=Rs. 4000
Rate(
R
1
)=10% and (
R
2
)=15%
time(t)= 2 years
Amount=
P
(
1
+
R
1
100
)
(
1
+
R
2
100
)
=
R
s
.
4000
(
1
+
10
100
)
(
1
+
15
100
)
=
R
s
.
4000
×
11
10
×
23
20
=
R
s
.
5060
C.I.= Amount-Principal
=Rs. 5060 -Rs. 4000=Rs. 1060
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