At what rate percent compound interest
will 80,000 amount to 1,06,480 in
3 years?
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given
principal=80000
amount=106480
time=3years
Find the rate of compound interest?
amount=principal(1+ r/100)^n
=>106480=80000(1+r/100)^3
=>106480/80000=(1+r/100)^3
=>1331/1000=(100+r/100^3
=>( 11/10)^3=(100+r/100)^3
=11/10=100+r/100
=>100+r=110
=>r=110−100=10%
hope it helps...
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