Find the amount for P = Rs 25000 R = 12 % n = 3 years interest is compounded annually
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2
Answer:
Rate of interest = 12% p.a. ∴ The compound interest is Rs. 10123.20.
Answered by
1
Answer:
P = Rs. 25000, n = 3 years, r = 12% p.a
∴ Amount =P(1+100r)n=Rs.25000×(1+10012)3
=Rs.25000×(100112)3=Rs.25000×2528×2528×2528=Rs.35123.20
∴ Compound interest =Rs.(35123.20−25000)=Rs.10123.20
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