Question

If loan of Rs 2000 is taken by Girish at 12% p.a. and compound interest is calculated. Find the amount paid after two years.​

Answer 1

Given That

• Principal=Rs.2000
• Rate=12%
• Time=2 year's

To Find

• Amount

Formula Used

$\sf \: Amount=P(1+R/100)^n$

$\sf \: Amount=2000(1+12/100)²$

$\sf \: Amount=2000(112/100)²$

$\sf \: Amount=2000×12544/10000$

$\sf \: Amount=12544/5$

$\sf \: Amount=Rs.2508.8$

• The Amount paid after two years= Rs.2508.8

Answer 2

Step-by-step explanation:

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