Find the compound interest on the sum of rupees 40,000?at the end of three years at 16% compounded annually
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Answer:
40,000. Rate of interest equals to 5% per annum and total compound interest calculated for time period 'n' equals to Rs. 44,100. So, rate = 5100 .
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Answer:
at the end of 3 years on a sum of Rs 40000 at an interest of 16%compounded annually is Rs. 62435.84.
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