the intrest valur of annuity of rs 2000 for 8 years at the rate 6% p.a compounded is
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Step-by-step explanation:
Given,
P = ₹2,000
R = 6%
T = 8 years
For compound interest,
A = P(1 + R/100)ⁿ
A = 2,000(106/100)^8
A = 2,000 × (53/50)^8
A = ₹3,187.7
C.I = A - P
= 3,187.7 - 2000
= ₹1,187.7
Thus, C.I = ₹1,187.7
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