Question

reema invested rs 92750 at 9.6 pa for 2 year and the interest is compounded annually find 1)the amount at the end of 2 year. 2) the interest obtained for 2 year​

Answer 1

Answer:

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Principal Amount=92750

Rate of Interest=9.6%

Time=2 years

Formula:Amount=Principal(1+Rate of interest)^2

A=92750(1+9.6/100)^2

A=92750*109.6/100*109.6/100

A=1,114,127,840/10000

A=1,11,412.78

Compound Interest=Amount-Principal

=111412.78-92750

=18,662.78

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