explain the formula of simple compound by example
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Answer:
simple compound formula = P×R×T/100
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Answer:
Formula:
simple interest= P×R×N/100
example:
principal=rupees 1000
rate=5%
number of years=2year
simple interest=P×R×N/100
=1000×5×2/100
=10000/100
= rupees 100
formula:
compound interest=amount - principal
example:
principal=rupees 1000
amount=rupees 5000
compound interest= amount - principal
=5000 - 1000
=rupees 4000
Hope it helps you. Thank you.
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