find the compound interest on ₹6400at 7.5per annum for 2 years
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Answer:
Step-by-step explanation:
Step-by-step explanation:
P = 6400
T = 2 YEARS
R% = 7.5%
AMOUNT = P(1+r/100) and the mentioned year as ²year or ³year …
A = ₹6400(1+7.5/100)²
A = ₹6400(1+75/1000)²
A = ₹6400(1000+75/1000)²
A = ₹6400(1075/1000)²
A = ₹6400(43/40)²
A = ₹6400x43/40x43/40
A = ₹7396
CI = A-P
CI = ₹7396-₹6400
CI = ₹996
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