find the compound interest using the simple interest formula on a sum of rupees 20000 for 2 years at the rate of 8% per annum
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SI=20000×8×1/100
= ₹1600
Amount
=SI+P
=20000+1600
=₹21600
second year
P=₹21600
SI= 21600×8×1/100
=₹1728
CI=1600+1728
=₹3328 Ans
= ₹1600
Amount
=SI+P
=20000+1600
=₹21600
second year
P=₹21600
SI= 21600×8×1/100
=₹1728
CI=1600+1728
=₹3328 Ans
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