Find the amount which Ishant will get on ₹ 10000, if he gave it for 15 months at 8½ % per annum compounded annually?
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Answer:
p = ₹10000
T = 15 months
R = 8 1/2 %
A = P ( 1+r/100) n
= 10000(1+17/2/100)
=₹ 851
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