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In what time sum of 2000 will become ? 2420, if the interest rate is 10%, compounded annually. |
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Answer» Given,P = Rs 2000A = Rs 2420R= 10 %A= P(1+ R/100)2420 = 2000(1+10/100)^n⇒2420/2000 = (11/10)^n⇒121/100 = (11/10)^n⇒(11/10)²= (11/10)^n⇒n=2In 2 years rupees 2000 will AMOUNT torupees 2420 at 10% PER annumcompound interest.Explanation: |
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