meera borrowed a sum of rs1000 from sita for two years. if the rate of interest is 10 percent compounded annually,find the amount
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A = P [ 1 +R/100] ^n
= Rs1000 [ 1 + 10/100] ^2
= Rs1000 [ 11/10 * 11/10]
= Rs1210
hence the amount will be Rs. 1210
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