Question

If a person deposits Rs. 2000 in a bank every year at 20% p. a. compounded yearly, after 2 years amount will be? ​

Answer 1

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Answer 2

2000÷20%=400 firt year

first year amount =2000+400==2400

now second year =2400÷20%=480

new amount or total amount after 2year is

.= 2400+480=2880