Salma borrowed from mahila samiti a sum of rupees 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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Step-by-step explanation:
A = P ( 1 + r/ 100) n
= 1875 (1+ 4 /100 ) 2
= 1875 (1+ 1/25) 2
= 1875 ( 26/25 ) 2
= 3 * 26 *26
= 2028 rs
C. I = A - P
= 2028 - 1875
= 153
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