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- Answer :
- 8320
- Explanation :
- We know, Compound interest = Amount - principal
- Using Amount formula :
- [tex]\bigg(1 + \dfrac{r}{100}\bigg)^n[/tex]
- Where,
- p(principal) = 50,000
- r(rate) = 8% n(time) = 2 years.
- On substituting the given values,
- [tex]\sf \longrightarrow 50000\bigg(1 + \dfrac{8}{100} \bigg)^{2} \\ \sf \longrightarrow \: 50000\bigg( \dfrac{108}{100} \bigg)^{2} \\ \sf \longrightarrow \: 5 \cancel{0000} \times \dfrac{108}{1 \cancel{00}} \times \dfrac{108}{1 \cancel{00}} \\ \sf \longrightarrow \: 5 \times 108 \times 108\\ \sf \longrightarrow \: 58320[/tex]
- ∴ Compound interest = 58,320 - 50,000 = 8,320∴ Required answer : ₹8,320
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