Question

Find the CI for Rs 35000 at 5% for 2 years using formula

Answer 1

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A = P(1+R/100)^n

= 35000( 1+5/100)^2
= 35000(21/20)^2
= 35000*21*21/20/20
= 38587.5

CI = A-P
= 38587.5-35000
CI = Rs. 3587.5

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