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Solution=>
Given=>What amount has to be paid on a loan of Rs.12000 for 3 years at 10% per annum compounded annually.
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To find: Amount to be paid after 3 years at 10% for ₹12000.
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Formula used:- Compound israt formula✓
where p=principle amount.
r=rate
t=time
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Summary of what we will do=>
We will put the values given in the question in the compound interest formula.
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Let's solve➜
Hence the amount to be paid after 3 years at 10% per annum is
₹15972.
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Hope you got your answer..
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