Find the compound interest, correct to the
nearest rupee, on * 2,400 for 2 years at
5 percent per annum.
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Find the compound interest, correct to the
nearest rupee, on * 2,400 for 2 years at
5 percent per annum.
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Answer:
yes
Step-by-step explanation:
Because our compound wall is strong
Verified answer
P= Principal=2400
R= Rate of interest=5%
n = Number of years=2 years
[tex]A= P(1+ \frac{R}{100} ) ^{n} \\ \: \: \: = 2400(1 + \frac{5}{100} ) ^{2} \\ \: \: \: = 2400( \frac{105}{100} )^{2} \\ \: \: \: = 2400( \frac{21}{20} )^{2} \\ \: \: \: = 2400 \times \frac{21}{20} \times \frac{21}{20} \: \: \: = 2646 \\ [/tex]
Compound Interest= A-P =(2646-2400) ₹= ₹246