1. A sum of Rs 8000 is borrowed at compound interest at the rate of 7% per annum. What will be the amount (in Rs) after 2 years?
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By: anil on 05 May 2019 02.04 am
Principal sum = Rs. 8000 Rate of interest = 7% and time period = 2 years Amount under compound interest = $$P(1+frac{R}{100})^T$$ = $$8000(1+frac{7}{100})^2$$ = $$8000(frac{107}{100})^2$$ = $$8 imesfrac{11449}{10}$$ = $$frac{91592}{10}=Rs.$$ $$9159.2$$ => Ans - (C)
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