Find the amount and the compound interest if the interest is compound yearly ₹8000 for 3 years at 15%per annum
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Answer:
amount=p(1+r/100)^n
=8000(1+15/100)^3
=8000(115/100)^3
=₹12167
CI=A-P
=12167-8000
= ₹4167
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