Find the CI on Rs 3000 for 3 years at 5% per annum.
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4
Answer:
A=P(1+
100
r
)
n
P=3,000
r=5%
n=2 years
A=3,000(1+
100
5
)
2
=3,000×
100
105
×
100
105
=3,307.5Rs.
CI=A−P
=3,307.5−3,000
=307.5Rs.
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