John deposits Rs. 1560 in a bank. The bank pays interest at 8% per annum. Find the interest and the amount to be received.
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Answer:P = Rs 1560
R = 8%
n = 3 years
A = ?
A = P(1+R/100)^2
= 1560( 1+ 8/100)^2
= 1560 (1+2/25)^2
= 1560(27/25)^2
= 1560(27/25)(27/25)
= Rs. 1819.584
CI = A-P
= 1819.584 - 1560
= Rs 259.584
Step-by-step explanation:
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