Question

☆ Topic : Compound interest
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Q. Find the compound interest on Rs.12000 for 10 years at the rate of 12% per annum compounded annually in rupees.
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Answer 1

Step-by-step explanation:

12000 for 10 years at the rate of 12% per annum compounded annually. Compound interest=37350-12000=25350.

Answer 2

Step-by-step explanation:

given :

• sum principal = rs 12,000

• interest time = 3 years

to find :

• interest compound = ?

formula :

• compound interest (1 + R/100)^t - P

solution :

• interest compound = P ( 1 + R/100)^t - P

• Interest compund = 12000 (1 + 10/100)^3 - 12000

• interest compound = 12000 (1+1/10)^3 - 12000

interest compound = 12000 (11/10 )^3 - 12000

• interest compound = 12000 (1331/1000) - 12000

• Interest compound = 15972 - 12000

interest compound = rs 3972

thus,

interest compound = rs 3972