Raul invest 10 , 000 at rate 6 % per Annam for 2 years, Now he decided to invest the amount that he got for another 3 years at rate 10 % . Find the amount he would get after that 3 years
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Answered by
10
Answer:
Given :
P=10000 ,Duration=2years ,Compound Interest=6%
We know that,
AMOUNT =P(1+
100
r
)
n
=10000(1+
100
6
)
2
=10000(1+
10000
36
+
100
12
)
=10000(1+
10000
36+1200
)
=10000(
10000
10000+1236
)
AMOUNT =Rs. 11236
Amount received after expiry of fixed deposit is Rs 11236
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