Find the amount received after depositing Rs 800 for a period of 3 years at the rate of 12% per annum.
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Answered by
18
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Principal = Rs 800
Time = 3years
Rate of interest = 12% p.a.
Simple Interest = Prt/100
= Rs ( 800×3×12 /100 )
= Rs 288
Therefore, Amount ( in case of SI ) = Principal + Interest = Rs 800 + Rs 288 = Rs 1088
Ans => Rs 1088
Now, Amount (in case of compound interest)
= P( 1+r/100 )^t
= Rs [ 800 ( 1 + 12/100 )³
= Rs 1123.94 (approx)
Ans => Rs 1123.94 (approx)
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Hope this helps uh!
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Answered by
28
Formula :-
Putting in the values,
Final Amount = Principal + SI
Formula :-
Putting in the values,
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