Compound interest an a sum of 1000 at the rate of 10%for 3ye
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331 is the compound interest
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EXPLANATION:-
compound interest formula=P(1+r/100)^n
GIVEN-
principal amount=1000
interest %=10
years=3
=P(1+10/100)^3
=P(1+1/10)^3
=1000(1+1/100)
=1000(101/100)
=10×101
=Rs.1010
THUS,THE COMPOUND INTEREST IS RS.1010
hope this helps....
EXPLANATION:-
compound interest formula=P(1+r/100)^n
GIVEN-
principal amount=1000
interest %=10
years=3
=P(1+10/100)^3
=P(1+1/10)^3
=1000(1+1/100)
=1000(101/100)
=10×101
=Rs.1010
THUS,THE COMPOUND INTEREST IS RS.1010
hope this helps....
really
100+10
101
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