Simple interest at the rate of 10% for a particular amount for 2 years is Rs.400.
(a) What is the principal amount ?
(b) What will be the interest for 2 years, if it was compounded annually at the same rate ?
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si = p×r×t/100
400=p×10×2/100
400×5=principal
2000= principal
b) amount = p(1+r/100)²
2000 ×(1+10/100)²
2000×11/10×11/10
121×20
2420rs
ci= amount - principal
ci= 2420-2000
ci=420
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