Q.17 Find S.L. and Amount if Principal = Rs 12,000; Rate = 62% p.a. and Time = 3 year
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Answer:
Amount after 3 years = P(1+
100
r
)
3
= 12000×(1+
100
5
)
3
= Rs. 13891.50
C.I. = Amount − Principal
C.I. =13891.50−12000
= Rs. 1891.50
Thus, compound interest is Rs. 1891.5
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