Calculate the amount and compound interest on Rs. 16000 for 3 years at 20% per annum compounded yearly
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principal =16000rs
rate of interest =20%
term=3years
interest =p×(1+r/100)^n
16000×(1+20/100)^3
=16000×(120/100)^3
=16000×(1.2)^3
=16000×1.728
=27648
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