Question

Principal = 20000
Rate%= 17/2
Time= 3 year
Find compound interest

Answer 1

Given,

P = 20000

R = 17/2

T = 3

To find,

The compound interest

SOLUTION,

A = $P(1+\frac{r}{100})^{2}$

A = $20000(\frac{217}{200})^{2}$

A = 23544.5

C.I = A - P

    = 23544.5 - 20000

    = 3544.5

Therefore, the compound interest in 3544.5

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