calculate interest on Rs.16000 at 5% per annum compounded annually for 2 and half years
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use formula
I=p(multiply)n(n+1)/2 (multiple) 12 (multiple) r/100
I=p(multiply)n(n+1)/2 (multiple) 12 (multiple) r/100
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The interest for 2 and half years i.e., 30 months is Rs. 2000/-. interest for each months is 66.6667 approximately...
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