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Calculate the amount on Rs. 20000 at the...

Calculate the amount on Rs. 20000 at the rate of 5% compound interest per annum for 2 years.

Text Solution

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The required amount `=Rs. 20000(1+5/100)^(2)`
`=Rs. 20000(1+1/20)^(2)`
`=Rs. 20000xx21/20xx21/20=Rs. 22050`
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