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Gautambabu has taken a loan of Rs. 2000 for 2 years at the rate of compound interest fo 6% per annum. Find the compound interest he has to pay after 2 years. |
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Answer» Gautambabu has taken a loan of Rs. 2000. `:.` Here principal `(P)=Rs. 2000` Rate of compound interest per annum `=6%` Period of time `=2` years. `:.` After 2 years the amount `=Rs. 2000xx(1+6/100)^(2)` `=Rs. 2000xx(106/100)^(2)` `=Rs. (2000xx106xx106)/(100xx100)` `=Rs. 2247.2` `:.` The compound interest `=rs. (2247.2-2000)=Rs. 247.2` Hence Gautambabu has to pay compound interest Rs. 247.2 after 2 years. |
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