The difference between compound interest, compounded annually and simple interest on a certain sum
of money for 2 years at 10% p.a. is 2222. What is the compound interest on this sum for 2 years?
(It's urgent)
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Step-by-step explanation:
CI-SI=P[R/100]^2
2222=P[10/100]^2
P=2222000
CI=P+R%+R% (because of 2 years with rate 10%)
CI=2222000+10%+10%
CI=268862
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