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easy way to solve compound interest. With the approximation calculations in compound interest problems becomes easy and we get the answer near to the actual answer. For two years this is 120.
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There are other types of questions that can be answered using the compound interest formula. Derivation for this result. And by rearranging that formula see Compound Interest Formula Derivation we can find any value when we know the other three.
A principal of 2000 is placed in a savings account at 3 per annum compounded annually.
Option C it is. Basically The formula for Amount in Compoun interest Amount. The value after 2 years will be 360639. And the total amount would be Rs.
