What would be the amount by compound interest if Rs. 5000 is invested at 5% p.a. for 2 years?
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Answer:
Amount is ₹5500
Step-by-step explanation:
SI = PRT/100
SI = 5000× 5× 2 /100
SI = 500
A = P + I
A = 5000+500
A = 5500
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