Sanjay borrowed rs 20000 from Punjabi National bank for 1 year 6months to buy second hand computer. If the rate of interest is 12% per annum calculate the compound interest he has to pay at the end of 1 year 6 months
the answer is 3744
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Answer:
3704
Step-by-step explanation:
Principal : 20000
Rate of interest : 12%
Time : 1.5 years =
Sum = P(1+r/100)^T
= 20000(1+12/100)^1.5
= 20000(1.12)^1.5
= 20000×1.1852
= 23704
C.I = 23704 - 20000
= 3704
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