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Find the compound interest when principal = Rs. 3000, rate = 5% per annum and time = 2 years. |
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Answer» Given: Principal =Rs.3000 Rate = 5% Time = 2 years Hence, Compound interest \(={p}[({1}+\frac{R}{100})^r-{1}]\) \(={3000}[({1}+\frac{5}{100})^2-{1}]\) \(={3000}((\frac{21}{20})^2-{1})\) \(={3000}(\frac{441-400}{400})\) \(={15}\times\frac{41}{2}\) =307.5 |
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