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9. Reena made a fixed deposit for certain years. She deposited ? 12,000 and after maturity of the fixed gor 15972. The interest rate was 10% pa. compounded annually. Find the time.deposit she​

Answer»

ade a fixed deposit for CERTAIN years. She deposited 12000 and after maturity of the fixed deposit she got 15972. The interest rate was 10% p.a. compounded annually. Find the time.She deposited the money for 3 years.Step-by-step EXPLANATION:Principal = 12,000Rate of interest = 10% p.a.AMOUNT = 15,972Type of interest = COMPOUND InterestTimeWe will do this answer through the process of Simple Interest.Amount for 1st year :Amount = Principal + InterestAmount = 12,000 + 1,200 = 13,200Amount for 2nd year :Amount = Principal + InterestAmount = 13,200 + 1,320 = 14,520Amount for 3rd year :Amount = Principal + InterestAmount = 14,520 + 1,452 = 15,972Hence,After 3rd year, the Amount is 15,972.



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