priciple is 2000, rate of interest is 2p.c.p.a, N is 2 year
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Answer:
simple interest =p*r*t/100
2000*2*2/100
SI =80
Amount =2080
Compound interest (with out using formula)
CI = p*r*t/100
CI = 2000*2*1/100
CI for 1 year = 40
1 amount = 2040
CI = 2040*2*1/100
CI =40.80
final amount = 2080.80
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