Question

Find the amount to be paid at the end of 2 years on 2400 rupees at 5 % per annum compounded annually (compound interest).

Answer 1

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Answer 2

Step-by-step explanation:

this is your question-

Find the amount to be paid at the end of 2 years on 2400 rupees at 5 % per annum compounded annually (compound interest).

given that -

principal = 2400

time = 2 years

rate = 5%

solution-

a = ( 1+ r/100)^t

= 2400( 1+ 5/100)^2

= 2400( 21/20)^2

= 2400×441/400

= rs 2646

c.I = a - p

= 2646- 2400

= 646 rs

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