Exercise 9.1
By using the formula find the amount and compound interest of the following:
(a) P = 6000, T = 2 years and R 19% per annum compounded annually
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Answer:
amount by simple compound = 8280
amount by compound interest =8496.4
Step-by-step explanation:
here p=principal=6000
t=time =2 years
r= rate =19%/ annum
formula of S. I. = PRT
formula of S. I. = PRT 100
»6000×2×19/100=8280
formula of C. I. = p( 1+ r
100
»6000×1+(19/100)‹2
»8496.4
hope this will help you........
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