Avantika gets a SI of Rs.4800 on a certain principal at the rate of 6%p.a. in 4 years. What CI will she get on twice the principal in two years at the same rate?
P= (SI × 100)/(R × T) = (4800 × 100)/(6 × 4) = 20000 CI = P[1+ R/100]t - P CI = 40000[1+ 6/100]2 - 40000 CI = 40000 × 106/100 × 106/100 - 40000 = 44944 - 40000 = Rs. 4944
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