On what sum will the compound interest at 7 1/2% per annum for three years compounded anually be ₹3,101.40
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as rate =71/2 that =35.5
compund interest anually = pr/100 or p×(1+r/100)is to power n
=3101.40×35.5/100 =110099.7/100=1,100.997 for the first year.
for the second year =1,100.997+3,101.40=4,202.397
=4202.397×35.5/100=3913166.18/100
=39131.6+4202.3=43333.9
43333.9×35.5/100=1538353.45/100=15383.3 for the third year
=C.I.= 1100.9+39131.6+15383.3= 85,615.8
compund interest anually = pr/100 or p×(1+r/100)is to power n
=3101.40×35.5/100 =110099.7/100=1,100.997 for the first year.
for the second year =1,100.997+3,101.40=4,202.397
=4202.397×35.5/100=3913166.18/100
=39131.6+4202.3=43333.9
43333.9×35.5/100=1538353.45/100=15383.3 for the third year
=C.I.= 1100.9+39131.6+15383.3= 85,615.8
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