Goutam babu borrowed ₹ 2000 at the rate of 6 percent comound interest per annum for 2 years. Let us write by calculatingi how much compound interest at the of 2 years he will pay
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P=₹2000; R=6%p.a.; T=2 years
A=P(1+R/100)^T
=2000(1+6/100)^2
=2000(106/100)^2
=2000*53/50*53/50
=4*53*53/5
=11236/5
=₹2247.20
CI=A-P
=₹(2247.20-2000)
=₹247.20
compound interest on 2 years will be ₹247.20
so Gautam Babu will pay ₹247.20
hope it helps!!!
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