Answers

2014-10-16T20:54:50+05:30
First apply the formula to find the amount...

A=P(1+r/100)[tex]A=P(1+r/100)^{n}
here P=2400, r=5, n=1
we get 2400 x 21/20
= 2520 which is amount 

C I = A-P
      =2520-2400
      =120rs
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