Find the amount on a sum of 2000, for two years when the interest is compounded annually at
10% per annum
(2
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Answer:
Principle = 2000
Time = 2year
Rate = 10% per annum
Amount = p(1+r/100)t
Amount = 2000(1+10/100)²
Amount = 2000×110/100×110/100
Amount = 2420
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