Find the compound interest on Rs. 40,960 at
6 whole 1/4% per annum for 3 years.
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A = P [ 1 + R/100 ] ^n
= 40960 [ 1 + 25/4*100 ] ^3
= 40960 [ 1 + 1/16 ] ^3
= 40960 * 17/16 * 17/16 * 17/16
= 10 * 17 * 17 * 17
= Rs.49130
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