Find the amount and compound interest if p = 5120 R= 12 1/2 % PER ANNUM and time = 3 years
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Answer:
p=5120
r=25/2
n=3years
amount=p*(1+r/100)^n
amount=5120*(1+25/200)^3
amount=5120*(225/200)^3
amount =5120*225*225*225/100*100*100
amount=58320
CI=amount -principal
=58320-5120
=53200
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