please give the solution
it's from compound interest
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answer to the attachment
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The Concept
Here, we need to know how to calculate the compound interest and the amount. We must remember that:
where
- P = Principal
- R = Rate of interest
- n = time (years)
And:
where
- A = Amount
- P = Principal
Answer
Given:
- principal = ₹20000
- time = 3 years
- rate of interest per annum = 8%
To find:
- the amount
- the compound interest
Solution:
★ Finding the amount
Let us substitute the values we know into the formula of how to calculate the amount.
Let us solve it then:
- Reducing 8/100,
- Adding 1 to 2/25
- Raising 27/25 to the power of 3,
- Simplifying,
★ Finding the compound interest
Let us substitute the values we know into the formula of how to calculate the compound interest.
[tex]\sf{Compound\:interest=25194.24 -20000}[/tex]
[tex]\boxed{\bf{Compound\:interest=5194.24 }}[/tex]
Therefore, the amount is ₹25194.24 and the compound interest is ₹5194.24.
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