an amount of rupees 600 is compounded annually at the rate of 5% the amount to be paid after 3 years is
(a)Rs 694.57
(b)Rs 550.34.
(c) Rs 700.32
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Answer:Principal = Rs.600
Rate = 5%
Time = 2 years
Amount = P(1+r/100)^t
=600(1+5/100)^2
= 600(100+5/100)^2
= 600(105/100)^2
=600×105/100×105/100
=66150/100
=661.5
COMPOUND INTEREST= AMOUNT - PRINCIPAL
= 661.5-600
= 61.5
Therefore, amount to be paid is 661 and C.I. is 61.
Step-by-step explanation:
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