what will be the compound interest on rupees 6000 at the rate of 10 % per annum for 3 years
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Principal = 6000 ruppees
Rate of ainterest = 10%
Time = 3 years
We know that,
Amount = P ( 1 + R )
100
= 6000 ( 1 + 10 ) raised to the power 3
100
= 6000 ( 11 ) raised to the power 3
10
= 7986 ruppees
C.I. = Amount - Principal
= 7986 - 6000
= 1986 ruppees
Hence, the C.I. on 6000 rupees for 3 years at 10% per annum is rupees 1986
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