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Question

Compound Interest Formula

A=P1+r100t


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Solution

Amount formula is given by A=P1+r100t

The compound interest is calculated, after calculating the total amount over a period of time, based on the rate of interest, and the initial principal.

Here initial principal=P

New principal sum or the total amount=A

Rate of interest per annum=r%

The time period in years =t

Frequency of the number of times the interest is compounded annually = n

Compound interest, C.I.=A-P


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