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Find CI on "Rs. 12,600" for 2 years at 1...

Find `CI` on `"Rs. 12,600"` for `2` years at `10%` per annum compounded annually.

Text Solution

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Here, Principal amount, `P = "Rs. 12,600`
Time, `t = 2` years
Rate `r = 10%` per annum
So, Amount, `A = P(1+r/100)^t`
`A = 12600(1+10/100)^2`
`A= 12600**11/10**11/10= "Rs. 15,246`
So, `C.I. = A-P = 15,246-12,600 = "Rs. 2,646`
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