The compound Interest of 20000/- at 10% per annum compounded annually for a certain time period of time is 4200/- . Find the time.
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Answer:
⇒ A=P(1+
100
R
)
T
⇒ A=20000×(1+
100
10
)
2
⇒ A=20000×
100
121
⇒ A=Rs.24,200.
∴ C.I.=A−P=Rs.24,200−Rs.20,000=Rs.4200.
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