Question

Q. Find the sum of money which will amount to Rs.4,53,690 in 2 years at 6.5% per annum compound interest.​

Answer 1

Principal [P] = 4,53,690

Rate [R] = 6.5%

Time [T] = 2 years

Now, interest on 100 for 1 year = Rs 65

Insterest on Rs for 1 year = Rs 65/100

Interest on Rs 4,53,690 for 1 year = Rs 6/100 × 4,53,690 = 272,214/10 = 272,21.4

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