What is the compound interest on a sum of 10,000 at 14% p.a. for
2 5/7years where the interest is compounded yearly?
nearest to Rs 1)
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Step-by-step explanation:
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Hibbert3049
03.12.2019
Math
Secondary School
+13 pts
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What is the compound interest on sum of 10000 at 14% p.A for 2 5/7 years
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sonuvuce
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The compound interest on sum of 10000 at 14% p.A for 2 5/7 years is 17143
Step-by-step explanation:
Principal amount = 10000 Rs.
Rate of Interest = 14%
Period =2\frac{5}{7}
=\frac{19}{7} years
The compound interest is given by
I=P(1+\frac{r}{100})^n-P
\implies I=10000(1+\frac{14}{100})^{19/7}-10000
\implies I=10000[1.14^{19/7}-1
\implies I=10000(2.7143-1)
\implies I=10000\times 1.7143
\implies I=17143
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