Question

Find compound interest on₹ 16000 for 3 years at 12% per annum compounded annually.​

Answer 1

Answer:

Step-by-step explanation:

COMPOUND INTEREST =P(1+R/100)^T

                                        = 16000(1+(12/100))^3

                                        = 16000(1.12)^3

                                        = 22,478.8

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Answer 2

Answer:

35. 152 or 4394/125

Step-by-step explanation:

A= P(1+R/100)^n

A= 16000(1+12/100)^3

A= 16000*(13/100)*(13/100)*(13/100)

= 35. 152 or 4394/125