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Question

Find the amount and the compounded interest on Rs.4500 for 2years at 10% per annum compounded annually.

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Solution

Amount (Compound Interest with Principle) is :A=P(1+r)n

Here, P=4500rate=r=10%=10100n=no of years=2 years

Now, A=4500(1+10100)2=4500(1+0.1)2=4500(1.1)2=5445

So,Compound interest =CI=AP=54454500=945

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