Find the compound interest if the P=700,R=6p.c.p.c,N=3years, A=?,CI=?
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Answer:
Amount = P(1+R/100)^n
= 700(1+6/100)³
= 700(100+6/100)³
= 700(106/100)³
= 700(53/50)³
= 700×148877/125000
= 700×1.191016
= ₹833.7112
Compond Interest = Amount - Principal
= 833.7112 - 700
= ₹133.7112
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