Find the compound interest on ₹90,000 for 3 years at the rate of 10% per annum compounded annually.
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Step-by-step explanation:
Given
Principal Amount (P)= ₹90000 Interest rate (r) = 10%
No. of Years (n) = 3
So, the Compound Interest is
= P×(1+r/100)^n
= 90000 (1+10/100)^3
= 90000 (110/100)^3
=90000 (110×110×110/100×100×100)
=90(11×11×11)
=₹119790
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