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Find the simple intreast on Rs. 24,000 for 4 years at 7% per annum? |
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Answer» I=Rs.2,400 I=PRT/100 2400=P*4*6/100 P=Rs.10,000 Compound INTEREST Formula:A=P(1+R/100)^T =10,000(1+4/100)^6 =Rs.12,653 *=USED as MULTIPLICATION symbol I=Simple Interest P=Principle Investment A=Amount R=Rate T=Time/annum |
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