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Find the compound interest on ₹ 2000 at 15% per annum for 2 year 4 months, compounded annually. |
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Answer» Step-by-step explanation: The COMPOUND interest on Rs. 8,000 at 15% PER annum for 2 years 4 months, compounded annually is : [A]Rs. 3109 [B]Rs. 3091 [C]Rs. 2980 [D]Rs. 3100 3109 Rs. Amount = p\left ( 1+\frac{R}{100} \right )^{t} = 8000\left ( 1+\frac{15}{100} \right )^{2\frac{1}{3}} = 8000\left ( 1+\frac{3}{20} \right )^{2}\left ( 1+\frac{3}{20\times 3} \right ) = 8000\times \frac{23}{20}\times\frac{23}{20}\times\frac{21}{20} = Rs. 11109 ∴ Compound Interest = Rs. (11109 – 8000) = Rs. 3109 Hence OPTION [A] is the right ansewr. |
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