In a savings Bank account the bank offers an annual compound interest of 5% if the interest will naresh get after 1 year if he deposited rs. 1600/- in the bank. L
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i hope its help you..
Step-by-step explanation:
a = p[(1 + i) ^ n - 1]
Formula x = 1600[(1 + 0.5) - 1]
Formula x= 1600[(1 + 0.5) - 1]
=1600 [ 1.05-1]
=1600 X0.05
=80 rs
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