Find the compound interest of Rs. 8000 at the rate of 122% per anum for two years.
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Find the compound interest of Rs. 8000 at the rate of 122% per anum for two years.
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Answer:
Principal = Rs. 8000
Time = 2 years
Rate = 5% for 1st year and 10% for 2nd year
C.I = A – P = 9240 – 8000 = Rs. 1240
∴ Rs. 1240 is the compound interest earned.
Verified answer
Answer:
Principal = Rs. 8000
Time = 2 years
Rate = 5% for 1st year and 10% for 2nd year
C.I = A – P = 9240 – 8000 = Rs. 1240
∴ Rs. 1240 is the compound interest earned.
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