Find the compound interest for the principal of Rs. 2000 and the rate of interest
5 p.c.p.a. for the period of 2 years.
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For the first year, P=Rs.2000,R=5%
so, I = 100
P×R×T = 100
Rs.2100×5×1
=Rs.105
The amount after the second year =2100+105
=Rs.2205
Final amount =Rs.2205
Hence,
Compound Interest = final amount - original amount
=Rs.2205−Rs.2000=Rs.205
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