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Principal = Rs. 1600, Time = 2 years, Rate 5% annual answer
Answers
Answered by
1
Answer:
Interest = 160 rupees
Step-by-step explanation:
Answered by
1
Answer:
Given details are,
Principal (p) = Rs 160000
Rate (r) = 20% = 20/4 = 5% (for quarter year)
Time = 1year = 1 × 4 = 4 quarters
By using the formula,
A = P (1 + R/100) n
= 160000 (1 + 5/100)4
= 160000 (105/100)4
= Rs 194481
∴ Compound Interest = A – P = Rs 194481 – Rs 160000 = Rs 34481
Step-by-step explanation:
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