Ravi deposited rupees 16000 at 10% in a bank for some years and withdrawn his interest every year at the end of the period he had received altogether rupees 22400 for many years he had deposited the money
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principle=16000
rate=20%
time=compounded quarterly =1/4×12 =3
c.i =p (1+r/100)n
16000×1+20/100 n
691200
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