Find the compound interest on Rs.20000 for 3 years at 100% per annum compounded annually. *
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Step-by-step explanation:
A=P (1+R/100)n
A= 20000 (1+100/100)3
A= 20000 ( 200/100)3
A= 20000 x 200/100 x 200/100 x 200/100
A= 2 x 200 x 200 x 2
A= 4 x 40000
A= 160000
CI = A-P
CI = 160000-20000
CI = 140000
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