Find the compound interest on rupees 1200 for 3 years at 5% per annum
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Answer:
C.I. = A - P
A = P ( 1 + r/100 )^n
P = Rs 1200 , r = 5% p.a. , n = 3 years
A = 1200 ( 1 + 5/100 )^3
A = 1200 ( 1 + 1/20 )^3
A = 1200 ( 20/20 + 1/20 )^3
A = 1200 ( 21/20 ) ^3
A = 1200 × 21/20 × 21/20 × 21/20
A = 1200 × 9261/8000
A = 1200 × 1.15
A = Rs 1380
P = Rs 1200
C.I. = A - P
C.I. = Rs ( 1380 - 1200 )
C.I. = Rs 180
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