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How much will be the compound interest to be paid on a principal amount of rs 53000 after 2 years at the rate of 4 p.c.p.a ?
- Ars $$4,324\cdot8$$
- Brs $$4,432\cdot8$$
- Crs $$4,342\cdot8$$
- Drs $$4,234\cdot8$$
Answer not set
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0
CCommunity
Solution
Principal + Interest = (1+r)^n
where, r= rate of interest in decimal
n= number of years
Total amount = 53,000+(1+.04)^2= 57324.8
Interest = 57324.8-53000=4324.8
Principal + Interest = (1+r)^n
where, r= rate of interest in decimal
n= number of years
Total amount = 53,000+(1+.04)^2= 57324.8
Interest = 57324.8-53000=4324.8
0
CCommunity
Solution
Principal + Interest = (1+r)^n
where, r= rate of interest in decimal
n= number of years
Total amount = 53,000+(1+.04)^2= 57324.8
Interest = 57324.8-53000=4324.8
Principal + Interest = (1+r)^n
where, r= rate of interest in decimal
n= number of years
Total amount = 53,000+(1+.04)^2= 57324.8
Interest = 57324.8-53000=4324.8