If Sunita borrowed 12,500 from a bank for 2 years at the rate of 8% p.a. compound interest, find the amount she has to repay the bank after 2 years.
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Answer:
P= 12500
n=2
r= 8%
A= P (1+r/100)ⁿ
= 12500 (1+8/100)²
=12500 x 108 X 108 /(100x100)
=14580.
She has to repay ₹14580 to bank
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