Find the amount and the compound interest on rs.4000 at 12 p.a. for two years, compounded annually.
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1st year = 4000*12*1/100
= 480
Amount = 4000+480=4480
2nd year = 4480*12*1/100
=89.60
Amount = 4480+89.60=4569.6
compound Interest = 569.6
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