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Formula for CI

Find the amou...

Question

Find the amount and compound interest if Rs. $1250$ is invested for $4$ years at $5 %$ compound interest.

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Solution

$A = P {(1 + \frac{R}{100})}^{n}$
$= 1250 {(1 + \frac{5}{100})}^{4}$
$= 1250 {(1.05)}^{4}$
$= 1519.383$
$∴$ $C I = A - P$
$= 1519.383 - 1250$
$= 269.383$

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