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Question

Vijay deposited $$Rs. 12000$$ for $$3\ yrs$$ at an interested of $$15\%$$ per annum. What compound interest does vijay get after $$3\ yrs$$ ?


Solution

$$CI=P[(1+\cfrac{r}{100})^n-1]$$
$$CI=12000[(1+\cfrac{15}{100})^3-1]=6250.5\approx 6250$$
Hence compound intrest$$=Rs.6,250$$


Mathematics

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