Question

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Find the amount if Rs.2000 is invested for 2 yrs at 4% per annum compounded annually.

Answer 1

Answer:

Rs 2163.20.

Step-by-step explanation:

The formula for this is

A = P(1 + r)^t     where P is the amount invested, r = the rate (as a decimal) and t = the number of years.

So for rs 2000 we have:

A = 2000(1 + 0.04)^2 = Rs 2163.20