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Calculate the amount and compound intrest on RS 2400 at 5% per annum compound annualy

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by simranlohana

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by simranlohana

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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