What will be the compound interest on ₹ 50,000 at 4 % per annum for 2 years compounded annually?
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What will be the compound interest on ₹ 50,000 at 4 % per annum for 2 years compounded annually?
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Answer:
A = 50,000 (1+4/100) ²
50,000 ( 104 /100) ²
= 54080
C.I = A-P
=50,000- 54080
= 4080 ans