without using CI formula calculate compound insert on rate 6000 for 2 year at 10/p.a.
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Answer:
A=P(1+R/100)²
A= 6000(1+10/100)²
A=6000(11/10)²
A=6000*11*11/10*10
A=60*121
A=7260
CI=A-P
=7260-6000
=1260
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