Find the compound interest on Rs 7000 for 3 years at 5% per annum compounded annually.
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A=P(1+R/100)^n
=7000(1+5/100)^3
=7000(105/100)(105/100)(105/100)
=7000(21/20)(21/20)(21/20)
=7×10.5×10.5×10.5
=Rs 8103.375
C.I=A-P
=8103.375-7000
=Rs 1103.375
=7000(1+5/100)^3
=7000(105/100)(105/100)(105/100)
=7000(21/20)(21/20)(21/20)
=7×10.5×10.5×10.5
=Rs 8103.375
C.I=A-P
=8103.375-7000
=Rs 1103.375
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