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Q)

Find the compound interest on rupees 18750at 8% p.a for 2year 5 month

Find the compound interest on rupees 18750at 8% p.a for 2year 5 month

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A)

principal for first year=18750

number of years=2yr 5 months

so for 5 moths=5/12

rate of interst =8%

SI=PNR/100=18750*5*8/(100*12)

=Rs.625

Compound interest for
P=18750
T=2
R=8%
Amount=P(1+R/100)^n

A=18750(1+8/100)^2

18750(108/100)^2

=18750*27/25*27/25

=21870

CI=21870-18750

=Rs3120

total CI=3120+625=Rs3745

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