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5., Ajit borrowed 2,00,000 from a credit card company at 20% p.a. compounded quarterly.Find the compound interest and the amount after one year. |
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Answer» Answer: 43100 Step-by-step EXPLANATION: A=p(1+ n r
) nt
p=2,00,000 r=20%. pa n=1 year t=4 years ∴A=2,00,000(1+ 4 20
%) 1×4
=2,00,000(1+ 100 5
) 1×4
=2,00,000(1.05) 4
=2,00,000(1.2155) A=243100 I=A−P =243100−200000 I=43,100. |
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