Paresh takes a loan of rupees 20000 at a compound interest rate of 5% per annum find the compound interest after 1 year
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= 20000 × 5÷100
= 1000
= 1000
Answered by
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Answer:
S.I = 1000
Step-by-STEP EXPLANATION=Principal= Rs 20000
Rate = 5%
Time=1 year
S.I=P*R*T/100
S.I=20000*5*1/100
S.I=Rs 1000
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