What Will be the compound interest occured on an amount of rs. 3400 after 2 years at the rate OF 6% p. a.
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Whenratesofdifferentyearisgivenformulatocalculateamountis A=P(1+100R1)(1+100R2)(1+100R3)
Givenprincipalis16000
A=16000(1+10010)(1+10012)(1+10015)
A=16000(1.1×1.12×1.15)
A=16000×1.4168
A=22668.8
Amountwillbe22668.8
∴ Compound interest accrued will be =22,668.80−Rs.16,000=Rs.6,668.80
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