Manish deposit rupees 16000 with a finance company for 3 years at an interest of 15% per annum what is the compound interest that Manish gets after 3 years
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Answer:
A =p(1 +r/1oo)n
= 16 ooo (I +15/100)3
= 16000x115/ loox115/100x115/100
= Rs.24334
Cl=24334-16ooo = Rs.8334
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