The compounded interest on Rs. 50,000 at 8% per annum for 2 years, compounded annually is-
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Step-by-step explanation:
Find the amount of Rs 50000 after 2 years, compounded annally, the rate of interest being 8% p.a. during the first year and 9% p.a. during the second year. Also, find the compound interest. Answer : Rs 8860.
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