A sum of 20000 rupees investment at a rate of 9% compounded annually find the amount after 1 and half year
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Given, P=20000,r=10%,n=3 years
A=P[(1+
100
r
)
n
]
A=20000[(1+
100
10
)
3
]
A= Rs. 26620
Compound interest = Amount − Principal
CI =26620−20000
CI = Rs. 6620
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