What is the compound interest on 12000 rs at the rate of 10% for 2 years?
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Answer: 2520
Step-by-step explanation:
c.i = p(1 + r/100)^t - P
ci = 12000(1+ 10/100)^2 - 12000
ci = 12000 11*11/100 - 12000
ci = 120*121 - 12000
ci = 14520 - 12000
ci = 2520
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