on what sum will the compound interest at 5% per annum for 2 years compounded annually be rs 164?
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Principal = ₹164
Time = 2 years
Rate = 5%
In compound interest :
A= p(1+r/100)²
A= 164(1+5/100)²
A= 164*105/100*105/100
A= 180.81
CI = A-P
CI= 180.81-164
CI= 16.81₹
Hope it may help you ♥
Time = 2 years
Rate = 5%
In compound interest :
A= p(1+r/100)²
A= 164(1+5/100)²
A= 164*105/100*105/100
A= 180.81
CI = A-P
CI= 180.81-164
CI= 16.81₹
Hope it may help you ♥
mukul9228:
No this answer is not correct. In my book answer its given 1600 as answer. Sorry but you failed to help me with my solution.
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