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What would be the compound interest obtained on an amount of Rs3000 at the rate of 8 percent pa after 2 years?
Wiki User
∙ 12y ago
After the first year: 3000 X 8% = 240, so you have 3240.
After the 2nd year: 3240 x 8% = 259.20, so the total interest is 240 + 259.20 = 499.20
Wiki User
∙ 12y ago
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