The simple interest on a certain sum of money at 8% p.a. for 2 years is Rs 2160. If the interest is compounded annually.Find the compound interest.
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Answered by
2
Answer:
CI=359.42
Explanation:
A=2160(1+8/100)^2
A=2160(108/100)^2
A=2160×11664/100
A=2519.42
CI=2519.42-359.42
=359.42
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