what will be compound interest on 5000 for 2 years at 4 percent per annum
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Step-by-step explanation:
No.1-
amount=p(1+r/100)^time
amount=5000(1+4%/100)^2
amount=5000*104/100*104/100
amount=5408
compound interest=5408-5000=408
thus CI=rupees 408
I hope this helps.
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