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Question
Calculate the amount and cornpound interest of the following, when cornpounded annually:
Rs 20,000 for 2 years at `12 1/2` % p.a.
Solution
Rs 20,000 for 2 years at `12 1/2` % p.a.
P=Rs 20,000 ; t = 2 years ; r = `12 1/2` p.a.
`"A" = "P" (1 + "r"/100)^"n"`
A= Rs 20, 000 `(1 + 25/(2 xx 100))^2`
= Rs 20, 000 x 1. 125 x 1. 125
= Rs 25,312.50
C.I. = A - P
= Rs (25,312.50- 20,000)
= Rs 5,312.50
Hence, Amount= Rs 25,312.50 and C.I. =Rs 5,312.50
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