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Find the compound interest for the principal of Rs. 2000 and the rate of interest

5 p.c.p.a. for the period of 2 years.

Question

Find the compound interest for the principal of Rs. 2000 and the rate of interest

5 p.c.p.a. for the period of 2 years.

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Mathematics
1 year
2021-07-17T16:14:23+00:00
2021-07-17T16:14:23+00:00 2 Answers
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## Answers ( )

Answer:your answer is in image

Step-by-step explanation:hope it helps

For the first year, P=Rs.2000,R=5%

so, I = 100

P×R×T = 100

Rs.2100×5×1

=Rs.105

The amount after the second year =2100+105

=Rs.2205

Final amount =Rs.2205

Hence,

Compound Interest = final amount – original amount

=Rs.2205−Rs.2000=Rs.205