the simple interest on a certain sum of money for 3 years at 5% per annum is rupees 1200 compute the compound interest being payable annually on the same sum at the same rate of interest
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Answer:₹1261
Step-by-step explanation:
SI=PRT/100
1200=P*3*5/100
1200*20/3=P
400*20=P
8000=Principal
A=P*(1+5/100)^3
8000*21*21*21/20*20*20
21*21*21
₹9261
CI=₹9261-₹8000
=₹1261
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