let us write by calculating the amount of rupees 30000 @ 9% compound interest per annum for 3 years
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Step-by-step explanation:
Principal(P)=Rs 30000
Rate=9p.c.p.a
Time (N)=3years.
To find-:Amount(A)=?
A = P (1+R/100)^N
A =30000(1+9/100)³
A =30000(109/100)³
A = 30000×109×109×109/100×100×100
A=3×109×109×109/100
A=327×11881/100
A=3885087/100
A=38850.87.
Amount=Rs 38850.87
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