PLEASE SOLVE THESEE!!!!!!!!!!!!
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P=16000, r=12.5% t=3
simple interest after 3 years = 16000×12.5×3/100
=160×12.5×3=6000
compound interest after 3 years=
16000(1+12.5/100)^3 - 16000
=16000{(1.125)^3-1}
=16000(1.423-1)
=16000×0.423=6768
His gain=6768-6000=768
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