A sum of RS 10000 was deposited in a book for a period of 27 months at the rate of 20% p.a on compound interest what will be the total amount received
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Answer:
15071.54
and
total: 25071.54
Step-by-step explanation:
Formula :
A = P( 1+ r/n)^nt
P= 10000
r= 20% = 8/100 = 0.2
t= 27month 2.25 years
n= Compund interest Annually
A= 10000(1+0.2/1)^1×2.25
= 10000(1.2)¹×².²⁵
= 15071.55
= You will receive 15071.54 Rs for 10000 Rs deposit
Total = 15071.54+10000 = 25071.54
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