Ravi takes a loan of 20,000 at 10% p.a. compound interest for 2 years.
Find the compound interest for 2 years.
For the given data
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Step-by-step explanation:
CI=P(1+R÷100)time
CI=20000(1+10÷100)2
CI=20000(11÷10)2
CI=20000×11÷10×11÷10
CI=200×121
CI=24200 Rs
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