How much will rs 6000 amount to in 2 year at C. I If the rate for successive year are 4%5%
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Step-by-step explanation:
Amount=P(1+
100
r
)
n
⇒6,615=6,000(1+
100
r
)
2
⇒(1+
100
r
)
2
=
6,000
6,615
⇒1+
100
r
=
20
21
⇒r=5%
At 5% per annum the sum of Rs 6,000 amounts to Rs 6,615 in 2 years when the interest is compounded annually.
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