find the compound interest on rs 320000 for one year at the rate of 20% per annum,if the interest is compounded quarterly
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Answer:
C.I. = 128000
Step-by-step explanation:
C.I. = P ( 1 + R / 100 ) T
= 320000 ( 1 + 20 / 100 )^1
= 320000 ( 1 + 1 / 5 )
= 64000 ( 1 + 1 )
= 64000 x 2
= 128000
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