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Answer 1

Question:−

Find the amount and the compound interest on ₹16,000 for 3 years at 5% per annum compounded annually.

$\huge\sf\red{Solution :-}$

Principal = (P) = ₹16, 000

Time = (t) = 3 years

Rate = (r) = 5%

Amount = Principal × (1 + (r/2 × 100)) n × 2

= ₹ 16,000 × (1+ (5/200)) 3 × 2

= ₹16,000 × (205/200)6

= ₹ 16,000 × 41/40 × 41/40 × 41/40 × 41/40 × 41/40 × 41/40

= ₹ 18,555

$\large{\boxed{\bf{\red{C.I. = Amount – Principal}}}}$

= ₹ 18,555 - ₹ 16,000

$\huge\red{\fbox{\rm{₹2555}}}$

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