compound and interest . principal=1500, rate=6 p.c.p.a. duration=3 years
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Answer: Compound interest : Rs. 39,000
Step-by-step explanation:
A = P (1+R/n)^n
= 1500 (1+6/3)^3
= 1500 (9/3)^3
= 1500×27
= 40,500
Hence,
Compound interest (CI) = A-P
= 40500-1500
= Rs. 39,000
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