find the compound interest on rupees 10000 for 4 years at 5% p. a.
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Answer:
₹2155
Step-by-step explanation:
Principal (P) = ₹10000
Rate (R) = 5%
Time (n) = 4 years
Amount (A) = P (1 + R/100)ⁿ
=> A = 10000 (1 + 5/100)⁴
=> A = 10000 (21/20)⁴
=> A = ₹12155
Compound Interest = A-P = ₹12155 - ₹10000 = ₹2155
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