Q. Find the compound interest on rupees 6400 for 2 years compounded annually at seven and half percent per annum.
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Answered by
1
Answer:
the ans is 927.36 hope it helps u
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Answered by
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Step-by-step explanation:
INTEREST ON 6400 FOR 1ST YEAR IS (6400 *7.5)/100
= 480
add 480 in 6400
6400+480 = 6880,
interest for 2nd year will be
(6880*7.5)/100
=516
total compound interest will be 480+516= 996.
HOPE IT HELPS
I HAVE CHOOSEN BASIC METHOD FOR YOU WITHOUT DIRECTLY TAKING FORMULA SO THAT YOU UNDERSTAND HOW IT WORKS ACTUALLY.
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