Ramesh lent 20000 to his friend at the rate 8% p. a interest being compounded annually. how much money will get back from his friend at the end of 2 year 9 months
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Given, P=20000, R=8%,
T=33 months=33/12 years
we know that for compound interest,
CI=20000x108x108 = Rs. 23328.
100x100
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