Question

calculate the interest on rs 5000 at the rate of 12% per annum for 3years compaunded annually​

Answer 1

Answer:

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Answer 2

Step-by-step explanation:

Given : Principal values= 5000

Rate = 12%

Time = 3 years..

Standard formula for compound interest A=P[1+r100]n

Substituting the values to the formula we get,

A=5000[1+r/100]3

⇒A=5000[1+ 12/100]3

On further simplification.

⇒A=5000[112/100]3

⇒A=5000[28/25]3

and squaring,

A= 5000[28×28×28/25×25×25]

A= 5000×21952/15625

A= 109760000/15625

On further simplified = 7024.64

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