A sum of rupees 3000 amounts to rupees 6000 in 2 years of at compound interest the interest of 4 years is
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I've done the sum without formulae, in my own understanding. You can add the formulae but somehow the answer here is correct.
Amt. after 4 years = 3000 × 4 = rs. 12,000
Compound interest = 12,000 - 3000
= rs. 9000
Therefore, interest for four yrs = Rs. 9000
Amt. after 4 years = 3000 × 4 = rs. 12,000
Compound interest = 12,000 - 3000
= rs. 9000
Therefore, interest for four yrs = Rs. 9000
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