calculate the compound interest on Rs 1,600 for 3 years at 5% per annum when interest is compounded annually
Answers
Answered by
0
Answer:
Use compound interest formula
Annul=3 years
Principle=1600
Rate=5℅
Step-by-step explanation:
Answered by
1
Answer:
Simple interest (S.I)=1600Rs
Time=3years
Rate=5% per annum (p.a)
Step-by-step explanation:
formula of compound interest= S.I ×T×R/100
1600×3×5/100
16×3×5
240
C.I=240Rs.
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