Yhe simple interest on amount 20000 is 7200 what is compound interest accrued in same time
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Rate = (S.I.×100)/(Principal×Time )
= (7200×100)/(20000×3) = 12 % per annum
∴ C.I. = P [(1+R/100)^T−1]
= 20000 [(1+12/100)^3−1]
= 20000 [(1.12)^3−1]
= Rs. 8098.56
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