## Find the compound interest on Rs. 1000 for two years at 4% per annuall

Question

Find the compound interest on Rs. 1000 for two years at 4% per annuall

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Mathematics
5 months
2021-06-30T07:45:47+00:00
2021-06-30T07:45:47+00:00 2 Answers
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## Answers ( )

Answer:₹81.60

Step-by-step explanation:Principal (P) = ₹1000

Rate (R) = 4%

Time (n) = 2 years

Amount (A) = P (1 + R/100)ⁿ

=> A = 1000 (1 + 4/100)²

=> A = 1000 (26/25)²

=> A = ₹1081.60

Compound Interest = A-P = ₹1081.60 – ₹1000 = ₹81.60