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What amount will be received in 3 years at 5 percent compound interest for a principal of rs.3200 |
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Answer» ong>Answer:P> GIVEN- principal (P) = Rs 3200 ; Rate (R) =5% and Time (T) =3years FORMULA:-Amount=P×(1+R/100)^Tputting value in formula:- Amount=3200×(1+5/100)^3 =3200×(105/100)^3 =3200×(105/100)×(105/100)×(105/100) =3200×(1•05)×(1•05)×(1•05) =3704•4 rupees formula of COMPOUND interest:-C•I=Amount- Principalputting value in formula:- C•I=3704•4-3200 C•I=504•4 rupees |
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