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Question 111
What is the compound interest accrued on an amount of Rs 25,000 in two years @ 12p.c.p.a ?
Solution
The rate of interest is 12% p.a
Principal is Rs. 25000
Duration is two years.
Hence, the amount at the end of two years is 25000*1.12*1.12 = 31360
So, the compound interest is 31360-25000 = Rs. 6360
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