Find the compound interest on 5000 rupees in 3 years at 10% per annum compounded yearly
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Answer:
Your question should be this.
Find the compound interest on 5000 rupees in 2 years at 10% per annum compounded yearly
Step-by-step explanation:
Answer:
PrincipalP==5000Rs
Compond Rate per annum=10%
Compound Rate half yearly= 10÷2 =5%=r
Time=5.5yrs=5.5×2=11=n half years
A=P×(1+
100
r
)
n
A=5000×(1+
100
5
)
11
A=5000×(1+(0.05))
11
A=5000×(1.05)
11
A=5×1.71
A=8550Rs
CI=A−P=8550−5000=3550Rs
Hence the answer is 3550Rs
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