1.

Calculate interest compounded monthly, when principal is Rs.1,00,000, rate of interest is 12% per annum and time period is 3 months

Answer»

Step-by-step EXPLANATION:

Compounded MONTHLY , interest rate =12/12 = 1%

A = P(1+i)^N

=1,00,000(1.01)³

=1,03,030.10

Interest = A-P

= 3,030.10



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