Find the amount if ₹ 2,000 is invested for 2 years at 4% p.a. compounded annually.
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Answer:
A = P( 1+ R/100)^T
= 2000×(1+4/100)^2
= 2000× (104/100)^2
= 2163.2
A=RS 2163.2
C.I.= A-P
= 2163.2 - 2000
= 163.2
C.I. = RS 163.2
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