Find compund intrest on rs. 8000 at 15% per annum for 2 years 4 months, compounded annually.
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rate = 15 % p.a 15/12 = 1.25%p.m
i = 1.25/100 = 0.0125
time = 24+4 = 28 months
P= 8000
CI = P(1+I)^n-1
CI = 8000(1+0.0125)^28-1
CI = 8000(1.0125)^28-1
CI = 3327.93
THE ABOVE CALCULATIONS ARE DONE USING CALCULATOR
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