Question

salma borrowed from mahila samiti a sum of rs.1875 to purchase a sewing machine. if the rate of interest is 4% per annum, what is the compound interest that she has to pay after 2 years




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Answer 1

Answer:

Rs231

Step-by-step explanation:

Here,

P=Rs1875, T=2years, R=4%

Int. on Rs1875 for first year=Rs1875×4×1÷100=Rs75

Amount at the end of the first year=Rs(1875+75)=Rs1950

Thus,the principal for second year=Rs1950

Int. on Rs 2625 for second year=Rs1950×4×2÷100=Rs156

Amount at the end of the second year=Rs(1950+156)=2106

C.I.=Rs(75+156)=Rs231

Answer 2

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