Calculate the compound interest due in 1½ years on Rs 7,000 at 10 percent compounded annually.
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1
Given P=7000
R=10%; T=4
A=P(1+
100
r
)
t
=7000(1+
100
10
)
4
=7000(1+
10
1
)
4
=7000(
10
11
)
4
=7000×
10000
14641
=7×14641/10
A=Rs. 10,248.7
C.I=A−P
=10,248.7−7000
=Rs. 3248.7.
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