Pincipal = 16000, Rate 15% per annum time 2.33 years find the the Compound Intrest
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Step-by-step explanation:
Principal =Rs.16000
Amount =Rs.18522
Rate =10% annually
Here, Rate =
2
1
×10=5% half yearly
Time n=?
Amount=Principal(1+
100
R
)
n
18522=16000(1+
100
5
)
n
⇒
16000
18522
=(1+
100
5
)
n
⇒
8000
9261
=(
20
21
)
n
⇒(
20
21
)
3
=(
20
21
)
n
∴ Period of the loan =3 half years =1
2
1
years.
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