Question

A man invested rs.50000 for 3yeats at the compound interest rate of 10 % per annum . After 2 years the rate of interest was raised to 10 %

Answer 1

Compound Interest is the interest calculated on the cumulative amount, rather than being calculated on the principal amount only. Amount, A = P [1 + (R / 100)]n, where P is the principal, R is the rate of interest per unit time period and n is the time period.

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