Find the compound interest on Rs 10000 for 5/2 years at 5% per annum compounded annually.
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Answer:
A=P(1+
100
R
)
n
A=10,000(1+
100
5
)
2
A=10,000(
100
105
)
2
A=10,000×
100
105
×
100
105
A=105×105=Rs.11,025
I=A−P=11,025−10,000=Rs.1,025
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