Nitin invested Rs7000 in share for 2 years at the rate of 12% per annum compound annually. What is the compound interest that nitin gets after 2 years.?
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Answer:
p= Rs 7000
t = 2year
rate =12% per annum.
A =p(1+R/100)t
A= 7000 (1+ 12/100) 2
A=7000(1/1+3/25)2
A=7000[28/25]2
A= 7000 ×28/25 ×28/25
A=8780.8
C.I.= A-P
C.I.= 8780.8- 7000
C.I.=1780.8
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