an employee salary in 2012 was rupees 120000 if he gets 15% rise annually what would be his salary at end of 2015
PLEASE IT IS V.V.V. URGENT.
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Time duration = 2015-2012= 3 years
Rate of interest p.a.= 15%
Principle amount=Ruees 120000
Salary in 2015 = 120000 +(15/100)*120000+(15/100)*((15/100)*120000+120000)+(15/100)*((15/100)*(15/100)*120000+120000+120000)=
195900
Rate of interest p.a.= 15%
Principle amount=Ruees 120000
Salary in 2015 = 120000 +(15/100)*120000+(15/100)*((15/100)*120000+120000)+(15/100)*((15/100)*(15/100)*120000+120000+120000)=
195900
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