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a person borrowed rs 7500 at 16% per annum compound interest. what is the amount of c.i he has to pay at the end of 2 years to clear the loan |
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Answer» P = RS. 7500 R = 16% T = 2 years. A = P(1 + (R/100))^T A = 7500(1+ (16/100))^2 A = 7500*(116/100)*(116/100) A = Rs. 10092 CI = A-P CI = 10092 - 7500 CI = Rs. 2592 |
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