sunny narrowed Rs:30000 at 5% C.I per annum. find the amount to be paid by him after 2 years 9 months if the interest is compounded annually
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Step-by-step explanation:
P=Rs.30,000,T=2years and R=10%
⇒ A=P(1+
100
R
)
T
⇒ A=30000×(1+
100
10
)
2
⇒ A=30000×
10
11
×
10
11
∴ A=Rs.36300
⇒ C.I.=A−P=Rs.36300−Rs.30000=Rs.6300
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