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Find the compound interest on Rs. 16,000 at 20% per annum for 9 months, compounded quarterly. |
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Answer» Principal = Rs. 16000; Time = 9 months =3 quarters; Rate = 20% per annum = 5% per quarter. Amount = Rs. [16000 x (1+(5/100)) 3 ] = Rs. 18522. C.I. = Rs. (18522 - 16000) = Rs. 2522. |
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