Mathematics · Compound Interest
A man borrowed ₹50,000 for 2 years at a rate of 2% per annum compound interest. The difference in the amount at the end of the first year and that at the end of the second year is:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1₹1,040
- 2₹1,030
- 3₹1,020✓
- 4₹1,050
Correct answer
₹1,020
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