Find the sum that amount to 3025 RS at 10% per annum for 2 year if the interest is compounded annually solve step wise step
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PRINCIPLE=3025
RATE=10%
TIME=2 YEAR
AMOUNT = P(1+R/100)²
=3025(1+10/100)²
=3025(11/10)²
=3025*121/100
=14641/4
=3660.25
COMPOUND INTEREST = A-P
=3660.25-3025
=635.25
RATE=10%
TIME=2 YEAR
AMOUNT = P(1+R/100)²
=3025(1+10/100)²
=3025(11/10)²
=3025*121/100
=14641/4
=3660.25
COMPOUND INTEREST = A-P
=3660.25-3025
=635.25
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