find the compound interest on 3000 for 2 years at 4 percent per annum .
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Solution:-
- P = 3000
- T = 2 years
- R = 4%
A = P(1 + R/100)^T
A = 3000 *( 1 + 4/100)^2
A = 3000 * 104/100 * 104/100
A = 3 * 10.4 * 104
A = 3244.8
CI = 3244.8 - 3000 = 244.8 (Answer)
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