find compound interest on a sum of ₹8000 for 2 years 6 months 5% per annum compounded annually
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⇒ Compound interest (C.I)=P[(1+100r)t−1]
P= Principal r= rate, t= time
⇒ C.I. =8000[(1+1005)2−1]
=8000[100025+10010]=8000[1000025+1000]
⇒C.I=108[1025]=14.820.
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