1.

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​

Answer»

Step-by-step explanation:

Let PRINCIPAL AMOUNT P=60,000

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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