find the ci on ₹1600 at 7/1/4% pa for 2 year
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Given
Principal ( P ) = Rs600
Rate of interest ( R ) = 7.25 %
No. of years ( N ) = 2
To Find
Compound interest ( C . I . ) = ?
Solution
A = P ( 1 + R/100 )^N
= 1600 × ( 1 + 7.25/100 )^2
= 1600 × ( 107.25/100 )^2
= 1600 × 107.25/100 × 107.25/100
= 16 × 107.25 × 107.25/100
= 16 ×107.25 × 4.29/4
= 4 × 107.25 × 4.29
Principal ( P ) = Rs600
Rate of interest ( R ) = 7.25 %
No. of years ( N ) = 2
To Find
Compound interest ( C . I . ) = ?
Solution
A = P ( 1 + R/100 )^N
= 1600 × ( 1 + 7.25/100 )^2
= 1600 × ( 107.25/100 )^2
= 1600 × 107.25/100 × 107.25/100
= 16 × 107.25 × 107.25/100
= 16 ×107.25 × 4.29/4
= 4 × 107.25 × 4.29
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