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On what sum will the compound interest at 5% per annum for 2 years compounded annually berupees 164? |
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Answer» Answer: Step-by-step EXPLANATION: ➡Since we don't KNOW the required sum let be = X ✴Given as Rate = 5% Time = 2 yrs Compound Interest = 164 ❇As we know that Compound Interest = AMOUNT - Principal Amount 164 = Amount - X Amount = 164+X ✅Hence the Required Amount will be 1640 hope it helps |
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