Please tell me this answer in long methid not by formula. Q-Find the amount and compound interest on rs 16000 for 4 years at 8% per annum,compounded annually.
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si=p×r×t/100
si=16000×4×8/100=5120
amount=16000+5120= rs.21120
si=16000×4×8/100=5120
amount=16000+5120= rs.21120
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