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What is the compound interest on Rs. 8000 at the rate of 10% per annum compounded annually for 2 years?

Question

What is the compound interest on Rs. 8000 at the rate of 10% per annum compounded annually for 2 years?
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Solution 1

To calculate the compound interest, we can use the formula:

A = P (1 + r/n) ^ nt

Where: A = the amount of money accumulated after n years, including interest. P = principal amount (the initial amount of money) r = annual interest rate (in decimal) n = number of times that interest is compounded pe Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.

Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
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