Naman borrowed 8200 from a financing company for 2 years at 5% per annum.calculate compound interest payable at the end of the term
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Answer:
C.I.= ₹840.5
Step-by-step explanation:
Amount=Principal (1+Rate/100)^Years
- Amount= 8200 (1+5/100)^2
- Amount=₹9040.5
- Compound Interest=Amount-Principal
- 9040.5 - 8200 = ₹840.5
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