what is the difference between compound interest for 2 years and 3 years for Rs.500 at 10% rate compounded annually?
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Answer:
A for 2 years =500(1+10/100)^2
=121*5
=605 rs
ci =605-500
=105
A for next year =605*121/100
=732.05
Ci=732.05-605
=127.05rs
dif=127.05-105
=22.05
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