rupees 10800 for 3 years at 12 and half percent per annum compounded annually
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Answered by
5
Solution:
Principal (P) = Rs10800
Rate of interest (r) = 12½%
= 25/2 %
Time(T) = 3 years
Number of times Interest paid
= n = 3
Now ,
Amount (A) = P[1+R/100]ⁿ
= 10800[ 1+25/(2×100)]³
= 10800[ 1+1/8]³
= 10800(9/8)³
= (10800×9×9×9)/(8×8×8)
= Rs15377.34
Therefore,
Interest = A - P
= Rs 4577.34
••••
Answered by
6
Hey mate here we go
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