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Find amount, if a sum of Rs.60000 is compounded annually for 2 years. The rates of interest of 2 years are 5% and 8% pa, respectively |
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Answer» Step-by-step explanation: Time period t=2 rate of interest R= 100 8
=0.08 Total amount =P(1+r) t =60000(1+0.08) 2 =69,984 |
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