Question

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Ramesh lent ₹20000 to his friend at the rate of 8% p.a. interest being compounded annually. How much money will he get back from his friend at the end of 2years 9months?

Answer 1

Answer:

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Step-by-step explanation:

Given, P=20000, R=8%,

T=33 months=33/12 years

we know that for compound interest,

CI=20000x108x108 = Rs. 23328.

100x100