What is the interest for 16,000 rupees at 12% for one year compounded annually? What would be the interest if the rate of interest is only 6 1/4%
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1st =1920Rs
2nd=1000Rs
Step-by-step explanation:
1st=16000(1+25/100)^1 =17920Rs
compound interest =17920-16000=1920Rs
2nd =16000(1+25/400)^1=17000Rs
compound interest=17000-16000=1000Rs
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