The compound amount of RS. 4000 for 3 years is RS. 5500. Find the compound interest.
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Answer:
CI = Amount - Principal
CI = 5500-4000 = 1500 rupees
Step-by-step explanation:
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Interest for 3 yrs=5500-4000=1500
Percent of interest for 3 yrs= (1500/4000)x100= 37.5%
Percentage of interest for one year = 37.5/3= 12.5%
Compound interest for a year = 12.5%
Percent of interest for 3 yrs= (1500/4000)x100= 37.5%
Percentage of interest for one year = 37.5/3= 12.5%
Compound interest for a year = 12.5%
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