Question

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Find the compound interest on ₹6400 for 2 years , compounded annually at 7 whole 1/2 % per annum.
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Answer 1

Answer:

⇒  P=Rs.6400,n=2years,R=215%

⇒  A=P(1+100R)n

⇒  A=6400(1+2×10015)2

⇒  A=6400×200215×200215

⇒  A=Rs.7,396

⇒  Compoundinterest=A−P

⇒  CompoundInterest=Rs.7,396−Rs.6,400=Rs.996

Answer 2

Answer:

⇒  P=Rs.6400,n=2years,R=215%

⇒  A=P(1+100R)n

⇒  A=6400(1+2×10015)2

⇒  A=6400×200215×200215

⇒  A=Rs.7,396

⇒  Compoundinterest=A−P

⇒  CompoundInterest=Rs.7,396−Rs.6,400=Rs.996