calculate the compound interest on rs 7000 at 12% per annum for one year
Answers
Answered by
0
Answer:
Principal =7000, R =4%, n =2 (∵ semiannually compounded),
t =3 years
Using the formula, we have
A=P(1+
100
R
)
n.t
⇒A=7000(1+
100
4
)
2×3
⇒A =7000×(1.04)
6
⇒A =7000×1.26531902
Amount =8857.23
Compound interest = Amount − Principal
=8857.23−7000
Compound interest =1857.23 Rs.
Step-by-step explanation:
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Answered by
0
Step-by-step explanation:
Principal =7000, R =4%, n =2 (∵ semiannually compounded),
t =3 years
Using the formula, we have
A=P(1+
100
R
)
n.t
⇒A=7000(1+
100
4
)
2×3
⇒A =7000×(1.04)
6
⇒A =7000×1.26531902
Amount =8857.23
Compound interest = Amount − Principal
=8857.23−7000
Compound interest =1857.23 Rs.
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