Find compound interest paid when a sum of 10000 is invested for 1year and 3 montfs at 17/2 per annum compounded annually
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Step-by-step explanation:
Therefore, A= p(1+R)N
100
A=10000(100+8.5) 3
100
A= 10000×108.50×108.50×108.50
100 × 100×100
A= 10×108.5×108.5×108.5
A= 12,772,891.25 rupees
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